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July 27 Shanghai copper afternoon review

 Last Update: 2022-12-12
 Source: Internet
 Author: User

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Market review, the main force of Shanghai copper Cu1809 opened at 49910 and closed at 50140, the highest 50290, the lowest 49750, the position decreased by 3,000 lots, and the trading volume decreased by 99,000 lots
.
Volatile overnight, closing down 0.
18%.

Shanghai copper

Spot to the current month contract discount of 50 yuan / ton ~ premium 20 yuan / ton, the market is afraid of heights, the source of goods continues to flow out, the willingness of holders to exchange cash is high, the transaction is weak, the source of goods continues to increase, and near the end of the month, the market buying is decreasing day by day, the state of oversupply is again obvious, tomorrow's spot discount or will further expand
.

On the supply side, after the high TC to around 90, the holders are interested in raising prices, coupled with the recent progress of Escondida's recent negotiations, and the current RMB is in a period of sharp depreciation, making it difficult for refiners to purchase
.
At present, there is no obvious change in fundamentals, the macro atmosphere is on the short side, the bears are killing the fall, the bulls are difficult to fight back, and the copper price is fluctuating
at a low level.

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