November 28 copper market noon review

Copper market summary: U.
S.
stocks rose to record highs to curb risk aversion, London copper closed up $5 overnight, Glencore's Congo copper and cobalt mine stopped production early, copper concentrate supply gradually tightened, and copper is expected to continue to rise
today.

Today's Shanghai electrolytic copper spot contract reported a premium of 70 ~ 100 yuan / ton, a flat water copper trading price of 47320 yuan / ton ~ 47350 yuan / ton, and a premium copper trading price of 47340 yuan / ton ~ 47370 yuan / ton
.
Shanghai copper oscillated
strongly above 47250 yuan / ton.
In the last two days of the end of the month, the market was basically biased towards the quotation of the next monthly ticket, and the morning holder quoted a premium of 80 ~ 100 yuan / ton, but the market response of the strong premium on the plate was weak, and the holder was forced to lower the quotation, flat water copper was concentrated in the premium 70 ~ 80 yuan / ton, good copper generally rose 90 yuan / ton, and the low-priced source still attracted some traders to buy; At the end of the month, the willingness to receive goods downstream was low, and the wet quotation was lowered to about
20 premiums.

At the end of the month, the market is difficult to launch, the market is more wait-and-see, spot copper inventory is still relatively low, spot premium is difficult to have room to fall, although traders have the willingness to receive goods, but the price is difficult to reach the willingness to enter the market, supply and demand are more likely to fall into a standoff, the characteristics of the end of the month are obvious
.