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Today, the main 1808 contract of Shanghai copper jumped sharply to open low at 52660 yuan / ton, the copper price at the beginning of the session remained stable around the daily average of 52718 yuan / ton narrow consolidation, following the announcement of the United States on Friday to impose 25% tariffs on China's $50 billion imports, in the morning US President Trump again threatened to impose 10% tariffs on China's $200 billion goods, trade war tensions escalated again, triggering market concerns about global economic growth, panic intensified, bulls have reduced positions to hedge, As a result, the base metal fell across the board, Shanghai copper leaked all the way, successively fell below the support of the 20, 40, 60-day moving average, the low to 51590 yuan / ton, the late decline was suspended, slightly repaired, closed at 51680 yuan / ton, down 1830 yuan / ton, down 3.
42%.
South Reserve East China: the average spot price of electrolytic copper was 52420 yuan / ton, down 590 yuan / ton; Liter discount quotes, -170 to -130 yuan, down 120
.
In East China, after returning from the Dragon Boat Festival holiday, copper prices fell sharply, and holders generally shipped at high prices, and quotations were higher than last Friday; However, downstream users are worried that copper prices will continue to fall, and the desire to receive goods is very low; The buyer and seller are in a stalemate, and the overall transaction is not ideal
.
Today's premium copper mainstream trading discount for futures contracts of the month is 120-130 yuan, flat water copper discount is 160-170 yuan, wet copper discount is 220 yuan
.
South China: the average spot price of electrolytic copper was 52,560 yuan / ton, down 660 yuan / ton; Liter discount quotes, -20 to 10 yuan, down 185
.
In Guangdong, Guangdong stocks increased sharply after returning from the holiday; At first, the holders still wanted to ship at a higher price, but few receivers could only reduce the price of shipment, but the transaction was still inactive after the price reduction, and it is expected that the market premium will continue to decline
in the future.
It is worth noting that the recent supply of wet copper in Guangdong is slightly more, which has a certain impact
on the price.
Today's premium copper mainstream trading pair futures contract premium 0-10 yuan / ton, flat water copper discount 20-30 yuan / ton, wet copper discount 60 yuan / ton
.
Today, affected by the Sino-US trade war, Shanghai copper has leaked sharply, and has returned to the previous 51500 yuan / ton platform, and it is expected that 51500 yuan / ton will have some support in the short term, and continue to pay attention to the progress of the
trade war.
Watch for housing starts in the United States in May
.
