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March 12 Copper Market Afternoon Review

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Copper market summary: driven by the lower dollar and rising oil prices, London copper closed up $26 overnight, Indonesia's copper concentrate export license issuance quota was significantly lower than last year, overseas supply tight pattern unchanged, is expected to rise slightly today
.

Copper City

Today's Shanghai electrolytic copper spot contract discount of 50 yuan / ton ~ premium 40 yuan / ton, flat water copper transaction price 49730 yuan / ton ~ 49810 yuan / ton, premium copper trading price 49790 yuan / ton ~ 49880 yuan / ton
.
Shanghai copper runs above the daily moving average, slightly higher than yesterday to 49800 yuan / ton line, the next month contract spread back structure narrowed to about
90 yuan / ton.

Spot quotations continue to follow the narrowing, holders of the price to raise the water sentiment further fermentation, good copper quotation full premium, morning market quotation premium 10 ~ 20 yuan / ton, middlemen buy strong, the transaction enthusiastic, so the holder again raised the quotation to 40 ~ 50 yuan / ton, but the transaction activity has not been further improved, the market temporarily stopped
.
Under the guidance of good copper, the quotation of flat water copper narrowed, and the quotation narrowed from 50 yuan / ton discount to 30 yuan / ton, the transaction was not as good as good copper, and the quotation of wet copper remained stable at about
200 yuan / ton.
Today, under the guidance of traders, the market is actively trading, downstream inquiries are increasing, buying is acceptable, low premium sources are still attractive, the price spread before delivery within the week is weak and continues to narrow, and the spot premium will still follow the upward
rise.

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