November 20 Copper Market Brief Review

On Tuesday, the main contract of Shanghai copper 2001 opened at 46810 yuan / ton in the morning, and then tested the lowest level of the day at 46790 yuan / ton, and then the bulls entered the market, pushing the market up to around 46900 yuan / ton, at the end of the midday the center of gravity fell and fell back to around 46880 yuan / ton, the afternoon opening Shanghai copper main center of gravity around the daily moving average oscillation, the overall volatility between 46840-46890 yuan / ton narrow range, manifested as a stalemate between the long and short sides of the stalemate tug-of-war, the end of the session closed at 46890 yuan / ton / t / tons, down 10 yuan / ton, down 0.
02%.

The average price of electrolytic copper in Shanghai in the South Reserve: 46930 yuan, down 90, the monthly discount quotation: 110 to 130, down 25
.
The market was clearly weak in early trading, and traders lacked interest in buying, forcing holders to gradually reduce their premium shipments
.
After
downward adjustment.
The transaction price of flat water copper is about +110, +120 yuan / ton, and the quotation of good copper is +130, +140 yuan / ton; In the second quarter, the market did not improve much, and the transaction was still weak
.
Demand weakened, trading fell from the previous day, and the overall trading atmosphere during the day was weak
.
Copper premium to the month's premium of 130-140 yuan, down 20; flat water copper premium 110-120 yuan, down 20; Wet copper premium 60-70 yuan, down 20
.

The average price of electrolytic copper in Foshan in Nanchu: 46850 yuan, down 60, the monthly discount quotation: 10 to 70, down 5
.
Holders of goods during the day enthusiastically shipped, in the morning Pingshui copper began to report +10, +20 yuan, market supply and demand oversupply, traders cautiously waited and waited, waiting for low-priced sources, and holders had to adjust prices one after another to pursue transactions
.
After ten o'clock, the mainstream of flat water copper has been reported around +0 and +10, but the transaction of the premium supply is not smooth
.
In addition, good copper quotations are rarer, the source of goods is more difficult to find, the holder of the price shipment, good copper premium increased by 10-20 yuan from the previous day, +80 or so can be traded
.
In general, the downstream maintains on-demand procurement, due to the large increase in the circulation of spots, and the difficulty of trading between traders, resulting in the rise of flat water copper to about
flat water.

The overall daily trend maintained a volatile pattern, mainly because Sino-US trade optimism was gradually digested by the market, investors' expectations of the prospect of international trade resolution were diluted, U.
S.
crude oil was also at a low of 56, and Shanghai copper maintained an overall volatile trend after optimism returned
.
At present, Shanghai copper closed negative, above the pressure of many moving average resistance level, Shanghai copper higher pressure is greater, many data in the United States have been released, pay attention to the trend of the external disk, test whether the center of gravity of Shanghai copper can continue to stand around 46800 yuan / ton
.