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On Friday, Shanghai copper rose sharply, and the nonferrous sector rose collectively in the afternoon, the main monthly 1812 contract opened at 48840 yuan / ton, the highest intraday 50020 yuan / ton, the lowest 48770 yuan / ton, settled 49360 yuan / ton, closed 49890 yuan / ton, up 1030 yuan, or 2.
11%.
In the external market, in the Asian market, London copper bottomed out and rebounded sharply, Beijing time at 15:00, the latest quotation of 6218 US dollars / ton, up 79 US dollars, or 1.
29%.
On the macro front, the US non-farm payrolls increased by 250,000 in October, better than the expected 200,000, compared with 134,000 in the previous month; the unemployment rate was 3.
7%, in line with expectations, wage growth hit the fastest pace since April 2009, and the dollar index closed higher; The United States began to impose sanctions on Iran, and the specific exemption countries will be announced at a later stage, and crude oil prices continue to be weak
.
In terms of the market, the price of domestic spot copper rose, and the price of Yangtze River spot 1# copper was 49260 yuan / ton, up 420 yuan, and the premium was 60-80; Shanghai spot 1# copper price was 49170 yuan / ton, up 420 yuan / ton
.
In the spot market, the holder's enthusiasm for shipment is general, and they still hesitate between the premium and discount, and the downstream maintains just need to purchase, and the overall transaction is average
.
China imported 9,641,673 kilograms of copper scrap from the United States in September, or just 9,642 tons, down 80.
1 percent
from 50,243 tons reported by customs a year ago, customs data showed.
On the whole, in view of the weakening of macro risks, copper prices have rebounded, but the support of fundamentals is still weak, Shanghai copper or strong shocks, it is recommended to protect profits
in the short term.
