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    Home > Chemicals Industry > New Chemical Materials > May 31 Copper Market Brief Review

    May 31 Copper Market Brief Review

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    Brief comment on the copper market, Thursday Shanghai copper main contract 1907 opened at 47290 yuan / ton in the morning, the center of gravity in the morning remained below the daily moving average of 47250 yuan / ton position narrow range shock finishing, afternoon price performance slightly pulled up to the intraday high of 47310 yuan / ton, after the short-term high, bulls have reduced their positions, the plate all the way down to 47110 yuan / ton, closed at 47130 yuan / ton, down 20 yuan / ton, down 0.
    04%.

    Copper City

    South Reserve East China: The average price of electrolytic copper was 46,630 yuan, down 400, and the price of the current month's discount (next month's ticket) was 50 to 100, up 25
    .
    After the sharp price increase in the previous day, the momentum for the intraday premium to continue to rise sharply is already very limited
    .
    However, due to the fact that the supply is still relatively tight, it is understood that the imported copper cleared before customs clearance has basically been consumed, so the holders continue to ship at a high price, and the receivers are also more active, overall, today's premium continues to rise, and the trading atmosphere is acceptable
    .

    South China Reserve: The average price of electrolytic copper was 46,630 yuan, down 420, and the price of the current month's premium (next month's ticket) was 70 to 80, flat
    .
    Reduced inventories and a sharp decline in the market made holders continue to raise prices, and in the morning Pingshui copper was reported at +80, +90 yuan / ton, following the previous day's premium rose 10-20 yuan
    .
    However, the enthusiasm for shipments in the market is high, and traders are not in a hurry to receive goods first, and the transaction was deadlocked
    .
    Then the holders began to adjust the price to flat water copper 70-80 yuan / ton, good copper +80, +90 yuan / ton, the transaction performance is still unsatisfactory, but the willingness to further adjust the price is also low, rare +60 yuan / ton of flat water copper
    .
    Overall, downstream purchases are good at taking advantage of low market entry, while high premiums make trading between traders unsmooth, and they generally want to receive goods
    at low prices.

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