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June 12 Copper Market Afternoon Review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Copper market summary: overnight London copper rushed back down, but supported by a slight decline in the US dollar, closing up $14 at the end of the day, China's new stimulus measures on copper consumption direct pull is limited, the market lacks directional guidance, copper may stabilize
today.

Copper City

Today's Shanghai electrolytic copper spot contract reported a premium of 50 ~ 100 yuan / ton, the transaction price of flat water copper was 46550 yuan / ton ~ 46660 yuan / ton, and the transaction price of premium copper was 46600 yuan / ton ~ 46710 yuan / ton
.
The upward rush of copper in Shanghai was blocked, falling back to 46,500 yuan / ton
.
The market is abundant, and the willingness of holders to ship for cash is strong, and the morning quotation premium is 70~110 yuan / ton, and there is almost no transaction
.

The market has no response, the inquiry atmosphere is also weak, the holder took the lead in relaxing the quotation of flat water copper, from 60 yuan / ton to 50 yuan / ton and there is still room for price pressure, good copper is lowered to about 90 yuan / ton quotation; Wet copper is flat with yesterday's maintenance at 20 yuan / ton ~ flat water
.
Abundant supply, weak consumption, cautious speculation, trade flow greatly reduced, near delivery next month price difference is still only in the range of 20-30 yuan / ton, the decline in premium is the trend, the market oversupply characteristics are obvious
.

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