-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
On Thursday, the Shanghai copper main 1806 contract opened at 51730 yuan / ton in the morning, and the bulls increased their positions at the beginning of the session, pulling up copper prices, touching 51930 yuan / ton and then falling slightly, testing 51650 yuan / ton
.
Subsequently, it showed a volatile upward trend, during which long and short positions were successively reduced
.
The rally continued in the afternoon, during which the bulls increased their positions in several waves, accelerating the pace
of growth.
Touching the height of 52060 yuan / ton, close to the 60-day moving average after the upward momentum is exhausted, long and short continue to reduce positions, copper prices fluctuate downward, the end of the amplitude increased, closing at 51940 yuan / ton, up 1110 yuan / ton, up 2.
18%.
In terms of external trading, London copper opened at 7035.
5 US dollars / ton, fell slightly at the beginning of the session, and tested 7008 US dollars / ton
.
After gaining support, it picked up and crossed the daily moving average all the way up
.
The rally slowed in the afternoon, and the first-line rally to $7,060/mt eased and fluctuated
.
After entering the European time, the amplitude expanded, as high as 7112 US dollars / ton after being weighed down by the rise of the US dollar index, giving up gains, and turned up to fall, as of 18:00, it was at 7032 US dollars / ton, down 4.
5 US dollars / ton
.
In terms of the market, overnight Shanghai copper rose nearly 1,000 yuan, the morning session narrowly sorted out around 51600 yuan / ton, the morning market opening holders repeated the old trick, crazy pull up to more than 350 yuan / ton, but the futures rose together, the transaction was seriously suppressed, helpless holders rationally adjusted shipments, in order to exchange cash, the quotation showed a downward trend
.
At the end of the first trading session, the premium was 280~330 yuan / ton, around 11 o'clock, it has dropped to 270~310 yuan / ton, and the premium has been smelled at 260~300 yuan / ton
before the close of the afternoon market.
Good copper quotation is high, the decline is large, flat water copper passive pressure, premium gradually return, although wet copper goods are small, but due to the limited downstream market, so the transaction is not as good as the previous two days, the quotation also from the premium 250 ~ 260 yuan / ton to 220 yuan / ton
.
The intraday market is more cautious of heights, the transaction is far less than the previous two days, the premium rose to more than 300 yuan / ton, the market's willingness to accept follow-up is declining, coupled with the rise of the market, downstream and traders' enthusiasm for entering the market are seriously frustrated
.
In the afternoon session, the market continued to rise, the fear of heights continued to ferment, and the market trading was cold
.
Holders continue to lower their premiums in order to seek transactions, and there are still few transactions
.
In terms of stocks, COMEX copper stocks 238275 short as of April 18, down 100 tons from the previous day; LME copper stocks were 359275 tonnes, up 1,250 tonnes from the previous day; As of April 19, SSE futures inventories were 144759 tons, down 4,242 tons
from the previous day.
After a period of "cooling-off period", the US side took the lead in releasing a signal
of hope for negotiations.
According to a media report, the LME delisted two Russian mining company Nonickel brands on Tuesday, and the LME nickel plate currently has a total inventory of about 60,000 tons, mainly Nonickel
.
The news stimulated nickel soared, driving the nonferrous metal collective to strengthen
.
Overall, the Sino-US trade war situation is expected to ease, the central bank lowered the RRR, macro favorable frequent promotion of market sentiment improved, copper downstream consumption gradually improved, spot premium expanded to a higher level, the futures price to form support, macro and fundamental positive resonance, is expected to maintain a strong operation in the short term
.
FYI
.
