November 15 Copper Market Brief Review

On Thursday, the main contract of Shanghai copper 2001 opened at 46970 yuan / ton in the morning, opened up at 47040 yuan / ton, and then immediately fell to 46950 yuan / ton, and then continued to rise, the center of gravity remained stable around 47000 yuan / ton until the end of midday; The center of gravity moved slightly up in the afternoon, maintaining stability around 47030 yuan / ton, and closing at 47030 yuan / ton, down 10 yuan / ton, or 0.
02%.

The average price of electrolytic copper in Shanghai in Nanchu: 47020 yuan, down 20, the monthly discount quotation: 130 to 150, up 10
.
Shanghai copper continued to move slightly lower, and cargo holders wanted to continue to push up the premium
.
In early trading, the premium quotation was as high as +150 yuan / ton and +170 yuan / ton
.
Traders were somewhat cautious in the face of the upside premium, and the deal was deadlocked
.
The holders then took the initiative to lower the quotation, and at about ten o'clock, Pingshui copper fell back to +130, good copper +150 or so, and the buying sentiment recovered after the price adjustment
.
Downstream buying sentiment continued to some extent, and the premium continued to edge higher
.
Copper rose 150-160 yuan for the month, up 10; flat water copper premium 130-140 yuan, up 20; Wet copper premium 70-80 yuan, up 20
.

The average price of electrolytic copper in Foshan in Nanchu: 46920 yuan, down 10, the monthly discount quotation: 10 to 80, up 20
.
Copper prices retreated in early trading, down slightly from the previous day
.
Due to the close delivery, the trade atmosphere in the spot market has weakened, and in the morning Pingshui copper reported +10, +20, good copper reported +70, +80, and Pingshui copper was traded
at a low price of +10 and +0.
Subsequent holders want to raise prices, and the market pressure is not large, flat water copper concentrated at +20, but not smooth, a small number of transactions
.
Overall, pre-delivery holders slightly raised prices, but the market waited for the month to change, and demand remained flat
.

The overall fluctuation range of the intraday plate remained at about 60 yuan, and the center of gravity remained around 47,000 yuan / ton, mainly due to the release of domestic industrial added value data in October was less than expected, superimposed on the uncertainty of the trade outlook is still large, the market risk aversion is heating up, CMX gold price rose three yang back to the 1470 US dollars / ounce mark, Shanghai copper rushed high lack of momentum
.
Focusing on Eurozone GDP data and US PPI data will guide copper prices
.