echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > July 5 Shanghai copper morning review

    July 5 Shanghai copper morning review

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    The overall risk sentiment in the internal market is quite high, the black commodity futures led by the thread continue to be strong, the Shanghai copper 1709 contract opened slightly higher at 47110 yuan / ton, the bulls actively increased positions to support the main force of Shanghai copper to stand steady daily moving average once rose to 47360 yuan / ton, the end of the day can stand firm daily moving average, closed at 47200 yuan / ton, down 30 yuan / ton
    .
    The trading volume of the Shanghai copper 1709 contract was 44,720 lots, and the position increased by 2,290 lots to 195,000
    .
    The small white candlestick
    closes.
    The far month is still dominated by long positions, and the Shanghai copper 1709 contract may rely on the lower 10-day moving average to reverse upward, with a range of 47000-47400 yuan / ton
    .
    In the spot market, due to the closure of the import ratio window, the circulation of imported copper is scarce, and the holders follow the trend to raise prices, and it is expected that the flat water will rise to around
    40 yuan / ton within the day.

    Shanghai copper

    In terms of the market, as of 2017-7-4, the spot price of Shanghai metal 1# copper was 47,000 yuan / ton, down 195 yuan / ton from the previous day, and 160 yuan / ton higher than the near-month contract.

    In terms of news, China's Caixin manufacturing PMI for June was 50.
    4, better than expected and prior, while the official manufacturing PMI was 51.
    7%, which was also better
    .
    Profits of industrial enterprises above designated size in China rose 16.
    7% year-on-year in May, compared with 14%
    in the previous month.
    The profit of China's industrial enterprises above designated size from January to May was 22.
    7% year-on-year, compared with 24.
    4% in the previous month, and the growth of industrial profits in May accelerated
    compared with April.
    China's State Grid project tenders rose to eight in May, up from two in April and March, as expectations for domestic demand improved
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.