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    Home > Chemicals Industry > New Chemical Materials > November 2 Copper Market Brief Review

    November 2 Copper Market Brief Review

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
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    On Friday, the main contract of Shanghai copper 1912 opened at 46940 yuan / ton in the morning, and then slightly fell to 46920 yuan / ton and then went all the way up, until the end of the afternoon trading back to the 47000 mark, the afternoon opening to maintain stability around 47070 yuan / ton, a slight retreat continued to rise, the end of the session closed at 47120 yuan / ton, down 250 yuan / ton, down 0.
    53%.

    Shanghai electrolytic copper spot contract reported flat water ~ premium 40 yuan / ton, flat water copper transaction price 46900 yuan / ton ~ 46980 yuan / ton, premium copper transaction price 46930 yuan / ton ~ 47000 yuan / ton
    .
    Shanghai copper fell below 47,000 yuan / ton to 46,900 yuan / ton, the first line of low volatility
    .

    On the first trading day of November, companies were abundant in funds, coupled with the decline in copper plates, boosting market consumption
    .
    The morning market activity is high, the quotation of flat water ~ premium 40 yuan / ton, flat water copper favor is slightly better than good copper, low-priced flat water copper is quickly collected, after flat water copper is stable in the premium 10 ~ liter 20 yuan / ton range, good copper quotation maintained stability at premium 30 ~ premium 40 yuan / ton, good copper buying is not as good as flat water copper; Wet copper rose slightly from the previous day, and the quotation was discounted 50 ~ 30 yuan / ton
    .
    Copper futures fell, holders performed strongly, downstream bargain buying increased, traders finally got rid of the stalemate pattern of a week, activity increased significantly, and overall trading improved
    significantly.

    The intraday low rebounded, mainly due to the improvement of domestic Caixin manufacturing PMI data, the release of values exceeded expectations, which boosted market sentiment, and Shanghai copper returned to the 47,000 yuan / ton mark
    .
    At present, the Shanghai copper closing doji has fallen below the 10-day moving average, and the support level has turned to a pressure level, which is difficult to say that the technical picture is good
    .

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