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On Wednesday, Shanghai copper sorted out at a high level, the whole line was red, the main monthly 1809 contract opened at 49690 yuan / ton, the highest intraday 50270 yuan / ton, the lowest 49670 yuan / ton, settled 50020 yuan / ton, closed 49910 yuan / ton, up 710 yuan, or 1.
44%.
The copper market overnight Shanghai copper slightly pullback, basically belongs to the trend of sideways oscillation, the decline is not large, the current should be a normal short-term rollback
.
In terms of the market, Shanghai electrolytic copper spot reported a discount of 50 yuan / ton ~ 20 yuan / ton for the current month's contract, the transaction price of flat water copper was 49820 yuan / ton ~ 49920 yuan / ton, and the transaction price of premium copper was 49840 yuan / ton ~ 49970 yuan / ton
.
In terms of spot, the discount has expanded, the downstream is afraid to stop and watch, the supply continues to flow out, and the overall transaction is slightly flat
.
In terms of stocks, LME copper stocks were 254425 tonnes as of July 24, down 275 tonnes from the previous day; Comex copper stocks were 213358 tonnes, down 1,296 tonnes; As of July 25, copper stocks in the previous period were 97,583 tons, down 3,865 tons
from the previous trading day.
In industry, BHP Billiton has included more "sweet" clauses in the final proposed collective bargaining agreement
to avoid a strike at Escondida, the world's largest copper mine, according to Bloomberg.
Union leaders did not immediately respond to a request for comment, and workers will meet on July 26 to discuss the terms of the offer and vote
on it from July 28 to August 1.
Data show that the operating rate of copper pipe enterprises in June was 95.
60%, an increase of 1.
69 percentage points from the previous month and 5.
78 percentage points
from the same period last year.
In June, the operating rate of copper pipe enterprises continued to grow, and the operating level continued to be at a high level
.
At present, the downstream air conditioning industry of copper pipe has entered the peak consumption season, and the output of key air conditioning enterprises in June increased month-on-month, mainly because some large air conditioning enterprises took the initiative to increase output in order to increase shipments and seize market share during the consumption season
.
In the short term, macro sentiment has eased, financial market confidence has recovered, A-shares have also come out of the bottom rebound market, coupled with the recent continuous decline in copper inventories, the market focuses on copper mine negotiations, forming a more obvious support for copper prices, short-term copper prices are expected to continue the rebound market
.
FYI
.
