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June 14 Shanghai copper brief commentary

 Last Update: 2022-12-11
 Source: Internet
 Author: User

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Today, the main 1808 contract of Shanghai copper opened at 53910 yuan / ton, after the opening of the bulls greatly reduced their positions and left the market, dragging copper prices down sharply, to 53740 yuan / ton after copper prices stopped falling upward repair, but the power is obviously insufficient, then the center of gravity is stepped down, the daily average gradually moved away, low to 53520 yuan / ton, and then the bears took profits one after another, copper prices rose back to around 53710 yuan / ton, and finally closed at 53630 yuan / ton, down 80 yuan / ton
.

Shanghai copper

South Reserve East China: the average spot price of electrolytic copper was 53,370 yuan / ton, up 120 yuan / ton; Liter discount quotation, -70 to -30 yuan, down 10
.
In East China, the willingness of holders to exchange cash is high, while the market has not seen an improvement to suppress the premium, good copper attracts traders to purchase at a low price, the discount is lower than yesterday, and the overall transaction is average
.
Today's premium copper mainstream trading pair futures contract discount of 20-30 yuan, flat water copper discount 60-70 yuan, wet copper discount 100-110 yuan
.

South China: the average spot price of electrolytic copper was 53,550 yuan / ton, up 130 yuan / ton; Liter discount quotation, 120 to 140 yuan, flat
.
In Guangdong, yesterday's large number of arrivals caused inventory to soar, but close to delivery and the basis is large, so that holders are reluctant to reduce the price of shipments, but there are not many receivers, the premium maintains yesterday's level, overall, today's trading is relatively quiet, downstream favors low-price wet copper
.
The premium copper mainstream trading pair futures contract premium 130-140 yuan / ton, flat water copper premium 110-120 yuan / ton, wet copper premium 60 yuan / ton
.

Today, Shanghai copper continued to pullback, and it is expected to continue to sort out around 53,500 yuan / ton in the evening
.
Today's announcement that the added value of industries above designated size in May 2018 increased by 6.
8% year-on-year, 0.
3 percentage points faster than the same month of the previous year, and 0.
2 percentage points lower than in April, overall, lower than expected
.
Watch for renewed jobless claims in the United States for the week of June 2
.

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