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    Home > Chemicals Industry > New Chemical Materials > May 7 Shanghai copper brief commentary

    May 7 Shanghai copper brief commentary

    • Last Update: 2022-12-10
    • Source: Internet
    • Author: User
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    Shanghai copper opened slightly lower and then oscillated within 51000-51200, closing at 51150 points, not rising or falling
    .
    Today's LME copper closed the market, Shanghai copper afternoon obviously low trading enthusiasm, in the absence of major fundamental changes, weak shock stabilized
    .
    From a technical point of view, the upper 5-day line is still short-term pressure, and there is no obvious support
    below.
    Affected by the expiration of the Iran nuclear agreement, the contradictions between the United States and Iran were stimulated, and the price of crude oil exceeded 70, and if the contradictions were further expanded, it may affect the trend
    of commodities.
    The dollar continues to strengthen, continuing to be bearish for copper prices
    .

    Shanghai copper

    South Reserve East China: the average spot price of electrolytic copper was 50,920 yuan / ton, up 10 yuan / ton; Liter discount quotation, 10 to 30 yuan, up 30 yuan
    .
    In East China, there are more shippers in the market, suppressing premiums, and traders buy better at low prices, good copper is favored, the premium is stronger, flat water copper and wet copper are generally traded, the second trading session, the holder took the initiative to lower the price to dump the goods, flat water copper premium turned into discount
    .
    As of the close, the premium copper mainstream trading pair futures contract premium 30 yuan, flat copper discount 60-80 yuan, wet copper discount 40-50 yuan
    .

    South China: The average spot price of electrolytic copper was 50,980 yuan / ton, down 40 yuan / ton; Liter discount quotation, 70 to 100 yuan, down 15 yuan
    .
    In Guangdong, after the weekend, Guangdong inventories rose sharply again, returning to 30,000 tons, in the face of this situation, the cargo holders were unable to hold prices, only to reduce the price of shipments, but buyers are still bearish and the market is not active
    in purchasing.
    Overall, today's trading is average, and the transaction of low-priced sources is better
    .
    As of the close, the mainstream trading pair of premium copper futures futures has a premium of 90-100 yuan, flat copper premium 60-80 yuan, and wet copper is 40-50 yuan
    .

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