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The Fed's decision is neutral hawkish, which has not significantly promoted the trend of the US dollar, but maintaining a gradual interest rate hike indicates that the overall strength of the US dollar in the later period is mainly strong, which puts pressure
on the copper market.
London copper maintained a line of volatility of $6800, Shanghai copper main force in overnight after covering the decline, the morning performance is basically stable, the current Chinese manufacturing data close good support for copper prices, but the dollar index continues to be strong basically offset this positive, currently focus on the progress of the Sino-US trade war, it is expected that Shanghai copper today to maintain a narrow range, if the negotiation to solve the current trade war, copper price follow-up rebound open, if there is no progress, then continue to low saw, it is recommended to wait and see for
the time being.
Spot market, due to the May Day holiday inventory increased a lot, superimposed on financial pressure, holders have lowered premium shipments, cash exchange willingness is strong, today Guangdong electrolytic copper trading premium significantly reduced, downstream most of the order purchase-based, a few are still waiting, the overall transaction is general
.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders of high prices and high premium shipments, because the refined waste price difference continues to narrow, most of the downstream turn to the purchase of high-quality electrolytic copper, conducive to the further increase in consumption demand for electrocopper, because the current premium is too high, downstream shutdown and production reduction phenomenon increases, holders continue to sell, the overall transaction is more quiet
.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders of high prices and high premium shipments, because the refined waste price difference continues to narrow, most of the downstream turn to the purchase of high-quality electrolytic copper, conducive to the further increase in consumption demand for electrocopper, because the current premium is too high, downstream shutdown and production reduction phenomenon increases, holders continue to sell, the overall transaction is more quiet
.
