November 30 Copper Market Brief Review

On Friday, the main contract of Shanghai copper opened at 47270 yuan / ton in the morning, and the center of gravity moved slightly up to around 47310 yuan / ton after the opening and maintained stability, and continued to fall back to around 47270 yuan / ton near midday, and then investors lacked recognition of the low, and the center of gravity quickly returned to around 47260 yuan / ton after a short dip, and closed at 47320 yuan / ton, down 70 yuan / ton, down 0.
15%.

The average price of electrolytic copper in Shanghai in the South Reserve: 47290 yuan, down 60, the monthly discount quotation: 70 to 80, down 5
.
Intraday market demand is still sluggish, the transaction is still not good, the early opening holders are still up, but then the premium falls
.
Good copper market demand is low, the quotation at the opening of +100 yuan / ton but no one responds, the holder is forced to gradually adjust the price of shipments, and the flat water copper price difference gradually narrows, some low-price source prices between +70, +80 yuan / ton, almost the same
as the flat water copper price.
The price of flat water copper was lowered to about +70 yuan / ton to remain stable, and it was +90
at the open.
Traders' enthusiasm is still not high, and downstream buying sentiment is insufficient
.
The premium copper rose 80-90 yuan for the month, down 10; Flat water copper premium 70-80 yuan, flat; Wet copper premium 10-20 yuan, down 5
.

The average price of electrolytic copper in Foshan in Nanchu: 47230 yuan, up 10, the monthly premium quotation: -70 to -10, down 10
.
After the active receipt of goods by traders in the previous day, many holders also expect the discount to narrow at the beginning of next month, and the price is shipped, and the flat water copper report in the morning is -50, the quotation of good copper is relatively small, the premium is 10-20, and there are transactions
one after another.
However, at the end of the month, downstream demand remained quiet, flat water copper trading was not smooth, the receiver wanted to further reduce the price, the discount was about 60 to receive the goods, and the supply and demand sides showed a stalemate
.
Overall, the holders are slightly optimistic about the spot price in the future market, and the willingness to ship is not high, but the downstream demand at the end of the month is also not good, and traders lack the willingness to receive goods after the discount and monthly difference narrows, and the overall trade atmosphere is low, showing both supply and demand
.

The overall stability of the intraday market remained stable around 47,300 yuan / ton, and the long and short sides were in a stalemate and tug-of-war, mainly because the uncertainty of Sino-US trade in recent days once again disturbed investor confidence, coupled with the slowdown in global trade progress has a greater impact on the EU economy, intensifying market concerns about the EU economy and limiting copper price gains
.