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    Home > Chemicals Industry > New Chemical Materials > November 20 Shanghai copper brief commentary

    November 20 Shanghai copper brief commentary

    • Last Update: 2022-12-14
    • Source: Internet
    • Author: User
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    Today's Shanghai copper main force 1901 morning market opened at 49860 yuan / ton, the beginning of the session copper price along the daily moving average narrow consolidation, during the two touched the intraday high of 49940 yuan / ton were blocked to fall, the second trading session began, London copper weakened, a large number of Shanghai copper long exit, copper prices all the way downward, completely fell below the daily moving average, tested down 49540 yuan / ton, bargain bears took the opportunity to leave the market, copper prices were strongly supported, recovered part of the intraday decline shock upward to around 49670 yuan / ton, late bulls exited, Copper prices fell slightly, closing at 49580 yuan / ton, down 80 yuan / ton, or 0.
    16%.

    Shanghai copper

    South Reserve East China: 49880 yuan, up 120 yuan, premium quotation: 30 to 90, down 10
    .
    In East China, the market rushed back down, the downstream cautious wait-and-see, consumption was suppressed, the willingness of holders to hold prices was still strong, the premium did not continue to decline after a slight price adjustment, buyers waited and watched, and the overall transaction was average
    .
    The premium copper mainstream trading pair futures contract premium 80-90 yuan, flat water copper premium 30-40 yuan, wet copper discount 180-200 yuan
    .

    South China Reserve: 49820 yuan, up 170 yuan, premium quotation: 0 to 20, up 50
    .
    In Guangdong, the recent arrival of increased inventory rebounded, but affected by the strong spot premium in East China, the holder firmly held the price, in the morning flat water copper still has a quotation discount of 30 yuan / ton, but also immediately follow the rhythm of price adjustment, flat water copper discount 10-0 yuan / ton, the price is rising rapidly, the receiving sentiment is suppressed, the discount source is relatively good trading, the price raising sentiment of large households still exists, and subsequent traders follow the price to flat water copper premium
    .
    The mainstream trading pair of premium copper futures contract in the month premium 20-30 yuan / ton, flat water copper premium 0-10 yuan, wet discount 70 yuan / ton
    .

    Although the main force of Shanghai copper closed negative, but because the main force of Shanghai copper jumped high overnight, and then broke through the 50,000 yuan mark and climbed 50,030 yuan / ton, the overall copper price center of gravity and stood above the 20-day moving average, today's copper price basically stood firm in the Bollinger middle rail, the high pointed to the half-year line, MACD red energy column appeared, waiting for external guidance in the evening, paying attention to the exit of bulls, and testing whether the main force of Shanghai copper can maintain stability above the Bollinger middle rail of 49592 yuan / ton in
    the evening.

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