echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > November 6 Shanghai copper brief commentary

    November 6 Shanghai copper brief commentary

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai copper main contract No.
    1901 remained volatile, closing at 49660, down 340 points
    .
    On the plate, Shanghai copper closed down in the night session, and Shanghai copper maintained volatility on the day, and the disk was slightly weak
    .
    After the news of the easing of the trade war, bulls took profits, and copper prices fell back when there was no substantial benefit to the macro surface; The news focuses on the release of the results of the US mid-term elections tomorrow morning Beijing time, which is expected to have a greater impact
    on the market.
    It is expected that copper prices will fluctuate in the range of 49500-50500, and you can sell high and sell low in this range
    .

    Shanghai copper

    South Reserve East China: average price of electrolytic copper: 49570 yuan, down 390, premium quotation: -10 to 10, up 5
    .
    In East China, the market is lower, the market supply is small, the willingness of holders to hold prices is strong, buyers remain wait-and-see, the transaction remains deadlocked, downstream consumption has not improved greatly, and the overall transaction is average
    .
    The premium copper mainstream trading pair futures contract premium 10-20 yuan, flat water copper discount 0-10 yuan, wet copper discount 100-110 yuan
    .

    South China Reserve: average spot price of electrolytic copper: 49550 yuan, down 360 yuan, premium quotation: -40 to 0, up 25
    .
    In Guangdong, due to the active speculation of traders in the early stage, actively purchasing low-priced sources to make warehouse receipts, resulting in the flat water copper discount has been greatly narrowed to around -40 yuan, so far the profit is very rich, the number of shipments in the market has increased, and even some warehouse receipts began to trade in the market, while the downstream procurement is not good after the copper price rebound, and traders are also afraid of heights and caution after the discount continues to rise, and the overall transaction is not smooth
    .
    The premium copper mainstream trading pair futures contract discount of 0-10 yuan / ton, flat water copper discount of 30-40 yuan
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.