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Market rumors of the start of trade war negotiations between China and the United States have eased panic, and base metals closed higher across the board in the morning, and the trend has improved significantly
.
London copper re-stood at $6600, Shanghai copper main trend in the morning slightly deadlocked, the overall obvious stop fall rebound gradually narrowed yesterday's decline, but yesterday's inventory surge superimposed copper mine strike reduction, macro and fundamentals are still bearish, with the gradual improvement of downstream demand, it is expected that today's copper prices remain weak and volatile, there is no possibility of a big rise, investors are still less wait-and-see
.
In terms of the market, Shanghai copper stopped falling and stabilized and rebounded, narrowly sorted out around 49500 yuan / ton, spot discount slightly narrowed compared with yesterday, traders inquired actively, market good copper quotation discount 140 ~ 120 yuan / ton, flat water copper discount 190 ~ 170 yuan / ton, more sources, the transaction is general, can be reduced
。 Around ten o'clock, some traders took the initiative to lower the quotation to good copper discount 150 ~ 130 yuan / ton, flat water copper discount to 200 yuan / ton gradually traded, downstream began to enter the market to receive, wet copper source accounted for less proportion, quotation firm, and gradually narrowed up to report a discount of 270 ~ 230 yuan / ton, wet copper market favor is still higher than good copper, flat water copper, market buying under the guidance of traders buying activity increased, the market temporarily stabilized, the market transaction recovery has significantly improved
.
Scrap copper market, market supply is obviously in short supply, the current holders are more reluctant to sell, downstream enterprises are still insufficient in the current start, market transactions are gradually recovering, most of the downstream turn to the purchase of high-quality electrolytic copper, scrap copper has no obvious advantages, demand is further reduced, the overall transaction volume is significantly reduced
.
