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    Home > Chemicals Industry > New Chemical Materials > March 5 Copper Market Brief Review

    March 5 Copper Market Brief Review

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
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    Copper market review: overnight Shanghai copper main force completed the contract change, today Shanghai copper main force 1905 contract opened at 49530 yuan / ton in the morning, after the opening of the center of gravity slightly lower 49370 yuan / ton, then performance low rebound, rose to 49650 yuan / ton before noon, after short-term high, the center of gravity fell back to the daily average of 49540 yuan / ton around a narrow range, closing at 49500 yuan / ton, down 800 yuan / ton, down 1.
    59%.

    Copper City

    South Reserve East China: The average price of electrolytic copper was 50250 yuan, up 230, and the price of the month's premium was 80 to 170, up 165
    .
    East China: Holders continued the previous day's price increase sentiment, reported high prices in the morning, but buyers were afraid of heights, and then sellers reduced prices to dump goods, the premium fell rapidly, flat water copper premium fell to around 20 yuan to trade, wet copper continued to shortage discount quickly narrowed, downstream only maintained a moderate amount of procurement, the transaction was not as good as yesterday
    .
    At the close, premium copper was 150-170 yuan premium to the futures contract for the month, up 155 from the previous day; flat water copper premium 60-80 yuan, up 140; Wet copper discount 20-40 yuan, up 140
    .

    South China: The average price of electrolytic copper is 50160 yuan, up 180, and the price of the month's discount is 0 to 50, up 100
    .
    Guangdong: Tax reduction expectations stimulate merchants to buy cash and sell period, and the market is reluctant to sell, there are few quotation shipments, and prices are also rising rapidly
    .
    There was basically no substantial quotation before ten o'clock in the morning, and then the quotation of flat water copper + 0 yuan / ton increased, but the big households insisted on high price shipments, flat water copper even reported +100 yuan / ton, and the overall quotation was more chaotic
    .
    After the low-priced goods were acquired quickly, the market fell into a quiet atmosphere, and there were still many traders who wanted to receive goods
    at low prices.
    Good copper quotations are even rarer, about +50 yuan / ton
    .

    During the day, Shanghai copper funds inflowed 14.
    95 million.

    Affected by the expectation of VAT reduction, the 1903-1907 contract all turned to the Back structure, of which the 1903-1904 contract spread was 80 yuan / ton, and the 1904-1905 contract spread was 380 yuan / ton
    .
    The main force of Shanghai copper formed a gap during the day, and the center of gravity basically returned to the level before the gap opened last week, directly falling below the 10-day moving average, and the MACD indicator double line is about to form a downward crossover, and a bearish signal
    appears.
    Wait for the guidance of the external disk to test whether the main force of Shanghai copper can be 49300 yuan / ton position
    .

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