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    Home > Chemicals Industry > New Chemical Materials > March 12 Copper Market Brief Review

    March 12 Copper Market Brief Review

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
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    Copper market review: Tuesday, Shanghai copper 1905 contract opened at 49260 yuan / ton in the morning, the center of gravity after the opening was basically stable at 49270 yuan / ton, affected by the external market before the afternoon, bulls actively buying, copper prices began to fluctuate and rise, the afternoon opening has tested 49480 yuan / ton, during the period of performance concentrated trading at 49310 yuan / ton position, after the afternoon short-term high, copper prices slightly pullback, the center of gravity fluctuated around 49390 yuan / ton, the end of the session tested 49490 yuan / ton, closed 49450 yuan / ton, Up 420 tons, or 0.
    86%.

    Copper City

    South Reserve East China: The average price of electrolytic copper was 49,780 yuan, up 240, and the monthly discount quotation: -50 to 20, up 55
    .
    East China: Positive inquiry in the morning market, close to the change of month after month basis narrowed, holders of high prices to sell, discount rapidly narrowed, good copper has been traded premium, there are fewer shippers before closing, the transaction is slightly deadlocked, the downstream maintains an appropriate amount of procurement, the market is generally optimistic about premium, and the transaction performance is not as good as yesterday
    .
    At the close, premium copper was 20-30 yuan premium to the futures contract for the month, up 60 yuan from the previous day; flat water copper discount 40-50 yuan, up 75; Wet copper discount 190-200 yuan, up 5
    .

    South China Reserve: The average price of electrolytic copper was 49,720 yuan, up 190, and the monthly premium quotation: -110 to -30, up 5
    .
    Guangdong: In recent months, the back structure price spread continued to narrow, merchants held up the price shipment sentiment is high, in the morning Pingshui copper reported -50, -70 yuan / ton, a sharp increase of 60-80 yuan / ton from the previous day, receiving goods seriously afraid of heights, no substantial transaction
    .
    Good copper mainstream report -20, -30 yuan / ton, there are a small number of transactions, and some good copper warehouse orders report above
    premium.
    In order to return funds, the shipper began to reduce the price to pursue the transaction, and the price of flat water copper was rapidly lowered to -110, -120 yuan / ton
    .
    Low prices attract traders to receive goods, and the transaction has improved, but the overall willingness to receive goods is still weak, and downstream on-demand procurement, trading is dominated
    by traders' speculative receipts.

    The spread of Shanghai copper 1903-1904 contracts continued to narrow to about
    100 yuan / ton during the day.
    The main solid column of Shanghai copper closed sharply to climb to the 5-day moving average, the MACD indicator green column narrowed, and the KDJ indicator 3-line performance turned upward, which is expected to form a cross benefit, testing whether the main force of Shanghai copper can return to above the 5-day moving average as a whole, up to 49500 yuan / ton position
    .

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