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March 19 Copper Market Afternoon Review

 Last Update: 2022-12-18
 Source: Internet
 Author: User

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Copper market afternoon commentary: the stock market plunged and oil prices plunged to hit the market, overnight London copper plunged nearly 8%, the epidemic caused economic downturn concerns intensified, copper market oversupply expectations heated, copper today or continue to decline
.

Copper City

Today's Shanghai electrolytic copper spot contract reported a premium of 20 ~ 50 yuan / ton, flat water copper trading price of 37540 yuan / ton ~ 37560 yuan / ton, and premium copper trading price of 37560 yuan / ton ~ 37570 yuan / ton
.
As the panic brought by the market about liquidity risks heated up sharply, causing the financial commodity market to plummet, Shanghai copper after yesterday afternoon's closure of the limit, this morning market opened again closed the limit 9%, the monthly contract price of 37520 yuan / ton
.

The market once could not quote, and then there was chaos from discount to large premium, close to 10 o'clock, under the guidance of large traders, the quotation was basically stable in the range of 20 ~ 50 yuan / ton of premium, and the price of wet copper was discounted 20 yuan / ton ~ flat water
.
Although there is a quotation, but it smells bad, there is a deal
.
At midday, the lowest London copper has fallen below 4400 US dollars / ton, tested down 4370 US dollars / ton, at the noon close, London copper temporarily fluctuated at a low level around 4450 US dollars / ton, the next target of Shanghai copper will be to test the 35000-36000 yuan / ton range, today's market performance is priceless, panic and worry pervades the entire market and industry chain
.

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