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Global trade escalation tension is about to erupt, in the morning domestic metals across the board of pullback, copper prices led the decline in metal trends, in the morning London copper fell below $6400 after continued to be weak shock, Shanghai copper main force in the morning after breaking the 50,000 mark after continuing to pull down, re-flattening the three-month low level, the current copper market fundamental support gradually weakened, demand off-season gradually declined, scrap copper support is limited, in the macro market bearish sentiment, copper prices are obviously under pressure or still continue to fall back adjustment, it is expected that today's Shanghai copper continued
。
In terms of the market, overnight domestic and foreign base metals fell across the board, London copper fell below 6400 US dollars / ton, Shanghai copper fell below 50,000 yuan, down 1,000 yuan, morning market holders reported premium, good copper premium 20 ~ 30 yuan / ton, flat water copper flat water, under the big fall, market caution rose, received limited goods, the price of holders moved down, flat water copper gradually reduced to a discount of 20 ~ 10 yuan / ton, good copper maintenance 10 ~ 20 yuan / ton, traders activity declined, the plate showed no signs of stopping, the market was afraid of decline Although there are inquiries downstream, the number of orders entering the market is decreasing
day by day.
The market is low, and there is still room and willingness
for spot weekend premiums to rise slightly.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders slightly adjust the price of shipments to ease the financial pressure, because the refined waste price difference continues to widen again, electrolytic copper consumption has slowed down slightly, inventory overall has a continuous increase trend, because the current premium is too high, downstream shutdown and production reduction phenomenon increased, holders continue to sell, the transaction has not improved
.