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    Home > Chemicals Industry > New Chemical Materials > November 5 Shanghai copper brief commentary

    November 5 Shanghai copper brief commentary

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    Today's Shanghai copper main 1901 contract morning market opened at the intraday high of 50140 yuan / ton, early London copper weakened, Shanghai copper along the daily moving average narrow finishing, then bears with positions in, bulls exited, copper prices fell below the daily moving average, along the 49940 yuan / ton a narrow finishing
    .
    In the afternoon, London copper fell rapidly, Shanghai copper fell with it, a large number of bears entered with positions, the center of gravity of copper prices fell slightly to test the low of 49730 yuan / ton, the tail copper price along the 49810 yuan / ton a narrow range, closed at 49770 yuan / ton, up 470 yuan / ton, up 0.
    95%.

    Shanghai copper

    South Reserve East China: average price of electrolytic copper: 49960 yuan, up 750, premium quotation: -20 to 10, down 15
    .
    In East China, the market continued to rebound, traders tried to raise prices in the morning, buyers were not optimistic about the future market premium, wait-and-see, and then the holders adjusted the price of shipments, the overall transaction was not good, the downstream only moderate purchase, consumption was flat
    .
    The premium copper mainstream trading pair futures contract premium 10-20 yuan, flat water copper discount 0-20 yuan, wet copper discount 110-130 yuan
    .

    South China Reserve: average spot price of electrolytic copper: 49910 yuan, up 790 yuan, premium quotation: -50 to -40, up 30
    .
    In Guangdong, copper prices have recently been at a low level, boosting downstream consumption, and inventories at the beginning of the week continued to decline
    .
    Holders in the context of the continuous narrowing of the discount, has no intention of selling at a low price, the overall shipment enthusiasm is not high, and the willingness of traders to receive goods is acceptable, after the rapid transaction of low-priced sources in the morning, the flat water copper discount is further narrowed to a discount of 40-50 yuan / ton, and the high-price trading performance is average
    .
    The premium copper mainstream trading pair futures contract discount of 30-40 yuan / ton, flat water copper discount 40-50 yuan
    .

    Today's Shanghai copper main force since last Friday London copper driven to a high level, the day was not defeated by the bears to suppress the high fall, forming a long upper shadow, but the center of gravity of copper prices is currently breaking through the 5-day, 10-day, 40-day, 60-day moving average and raised to near the Bollinger mid-band, the high point to the half-year line
    .
    In the evening, pay attention to the situation of short positions, wait for external guidance, and test whether the main force of Shanghai copper can hold the 50,000 mark
    .

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