-
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
Brief comment on the copper market, Wednesday's Shanghai copper main contract 1907 opened at 47800 yuan / ton, the opening price rose slightly to the intraday high of 47830 yuan / ton, and then the plate was in a volatile downward trend, and 47740-47810 yuan / ton between the shock sorting, and then due to the bulls continue to reduce their positions, copper prices further fell below the 47700 yuan / ton mark
。 Due to the lack of market confidence, and the US dollar continued to maintain a high stabilization, copper prices came under pressure, and the afternoon continued to fluctuate downward to the lowest point of the day of 47620 yuan / ton, and after a slight rebound to 47690 yuan / ton, it closed at 47620 yuan / ton, down 260 yuan / ton, or 0.
54%.
On the news, the United States sanctions against Chinese companies have heated up, and the EU has a second chance to leave the EU, and the superposition of multiple factors has led to increased market panic, the US index has risen all the way, and copper prices have been under serious
pressure.
However, the supply of copper concentrate is expected to be limited, the import restrictions on scrap copper are about to be implemented, and the supply side is tight in the later period, and although there is no great improvement in consumption, the overall consumption is good, which has a certain supporting effect
on copper prices.
Recently the international macro wave again, Sino-US trade differences have expanded, the degree of impact on copper prices, it is recommended to continue to pay attention to international macro news and domestic counter-cyclical regulation
.
Copper prices are expected to fluctuate weakly in the near future, focusing on whether the 47,000 support level is effective, or there is a price rebound
.
It is recommended to wait
and see.
Shanghai copper continued to close negative during the day, the following failed to hold the 5-day moving average, although the trade war sentiment eased slightly, but market confidence still needs time to recover, waiting for external guidance, testing whether Shanghai copper can hold the 47600 yuan / ton mark
.
