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    Home > Chemicals Industry > New Chemical Materials > June 29 Shanghai copper brief commentary

    June 29 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 51760 yuan / ton, the pressure near the 60-day moving average is quite large, the bulls at the beginning of the session will reduce their positions and leave the market, copper prices fluctuate down to below the daily moving average, and then with the short position reduction, copper prices returned to the daily moving average above the 51650 yuan / ton line
    .
    Returning in the afternoon, under the double pressure of long and short, copper prices fell to a low of 51440 yuan / ton, and then slightly recovered the lost ground, but always ran below the daily moving average, and finally closed at 51480 yuan / ton, down 80 yuan / ton
    .

    Shanghai copper

    South Reserve East China: the average spot price of electrolytic copper was 51060 yuan / ton, down 290 yuan / ton; Liter discount quotation, -200 to -160 yuan, flat
    .
    In East China, the market atmosphere at the end of the month remained cold, many holders have said that they will not ship, and at the same time there are not many downstream goods, the morning market quotation has been raised, but the acceptance is low, the price is lowered before the transaction begins, and the discount is basically unchanged yesterday
    .
    Today's premium copper mainstream trading pair futures contract discount of 150-160 yuan, flat water copper discount 190-200 yuan, wet copper discount 270-280 yuan
    .

    South China: the average spot price of electrolytic copper was 51220 yuan / ton, down 300 yuan / ton; Liter discount quotes, -40 to 0 yuan, up 5
    .
    In Guangdong, on the last day of June, most traders did not trade, only some of the just-needed terminal factories had a small amount of replenishment action, in general, today's trading is very quiet, and the premium has not changed much
    .
    Today's premium copper mainstream trading pair futures contract discount of 0 yuan / ton, flat water copper discount of 30-40 yuan / ton
    .

    Today's announcement announced that the profits of enterprises above designated size in China increased by 21.
    1% year-on-year in May, continuing the momentum of rapid growth, and the continuous depreciation of the RMB is expected to have some support for Shanghai copper, but the pressure at the 60-day moving average above 51800 yuan / ton is quite heavy
    .
    Watch for US durable goods orders data for May
    .

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