-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
LME copper fluctuated bearish on Friday, and as of 15:00 Beijing time, the three-month London copper was at $5,894 / ton, up 0.
08%
on a daily basis.
The main 2001 contract of Shanghai copper fluctuated downward, with the highest 47370 yuan / ton and the lowest 47200 yuan / ton within the day, and the closing price of 47320 yuan / ton, down 0.
06% from the closing price of the previous trading day; The trading volume was 84278 lots, and the daily decrease was 23200 lots; The position was 210,400 lots, a daily decrease of 12,142 lots
.
The basis was reduced to -20 yuan/ton; The price difference of Shanghai copper in 2001-2002 remained at -80 yuan / ton
.
Market focus: (1) US President Trump signed the "Hong Kong Human Rights and Democracy Act"
.
China strongly urges the US side not to implement the law change, so as not to affect China-US relations and cooperation
between the two countries in important areas.
(2) Antofagasta, Chile, and Chinese and Japanese refiners finalized the 2020 copper concentrate long-term TC/RCs prices of $62/mt and 6.
2 cents/lb, in line with
the freeport agreement price.
Spot analysis: On November 29, spot 1# electrolytic copper was quoted at 47270-47330 yuan / ton, with an average price of 47300 yuan / ton, down 45 yuan / ton
per day.
Although some traders enter the market to lower prices and close low-priced goods, there is little room for price reduction in spots, which inhibits traders' willingness to enter the market, and the downstream continues to maintain rigid demand
.
Entering December next week, the market is abundant, and the strong pattern of premium will continue as the import window continues to close and inventories continue
to hover.
Warehouse receipt inventory: Shanghai copper warehouse receipts totaled 59,594 tons on Friday, an increase of 1,126 tons per day; On November 28, LME copper stocks were 210,200 tons, down 3,000 tons per day, and fell for five consecutive days
.
As of the week of November 29, the stock of copper cathode on the Shanghai Futures Exchange was 120192 tons, a weekly decrease of 14,845 tons, a decline of four consecutive weeks
.
Main positions: the top 20 long positions of Shanghai copper main 2001 contract were 63813 lots, minus 4375 lots per day, short positions were 80730 lots, daily minus 3242 lots, net short positions were 16917 lots, a daily increase of 1133 lots, long and short were reduced, and net short increased
.
Market research and judgment: On November 29, the main force of Shanghai copper in 2001 fluctuated
downward.
US President Trump's signing of the Hong Kong-related bill has an adverse impact on Sino-US trade negotiations, market concerns have rebounded, while strong US economic data, high US dollar operation, and lack of significant improvement in downstream demand, pressure on copper prices, but upstream China finalized TC long-term agreement prices at a low level, rising raw material costs, and global stock inventory showing a downward trend, which supported copper prices
.
In terms of spot, the operation of the market is still at a high level, buying cautious, although some traders enter the market to lower prices to close low prices, but there is little room for spot price reduction, inhibiting traders' willingness to enter the market, and the downstream continues to maintain rigid demand
.
Technically, the main 2001 contract daily MACD red column of Shanghai copper growth, shrinkage and position reduction, is expected to operate in short-term volatility
.
