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Today's Shanghai copper main contract No.
1901 continued to fluctuate, closing at 49370, down 130 points
.
On the plate, Shanghai copper consolidated around 49500 throughout the day, and the plate was still weak
.
On the news, the Fed announced its interest rate decision at 3:00 a.
m.
on November 9, and the market did not expect to raise interest rates
.
Fundamentals, copper inventories on the three major exchanges are low
.
China will ban imports of seven categories of scrap at the end of this year, which is expected to reduce imports of about 200,000 metal tons of scrap copper and boost copper prices
.
At present, the market still has no clear direction, and the bulls and bears are more wait-and-see
.
It is expected that copper prices will fluctuate in the range of 49,000-50,000, and a small amount can be bought
below.
South Reserve East China: the average price of electrolytic copper: 49580 yuan, up 80, liter discount quotation: 70 to 90, up 45
.
In East China, there is still one week left before the delivery date, the basis of the next month is around 70 yuan, the willingness of the holders to raise the price is higher, the premium is higher again, the buyer's enthusiasm to receive goods is slightly reduced, the downstream continues to purchase on demand, and the overall transaction is
acceptable.
The premium copper mainstream trading pair futures contract premium 80-90 yuan, flat water copper premium 60-70 yuan, wet copper discount 40-50 yuan
.
South China: average spot price of electrolytic copper: 49520 yuan, up 50 yuan, liter discount quotation: 0 to 30, up 10
.
In Guangdong, there are not many shipments in the market, the quotation is relatively firm, the flat water copper premium 20 yuan / ton in the morning, but it is difficult to have a transaction, when the flat water copper falls back to the premium 0-10 yuan / ton, the transaction situation begins to improve
.
With high inventories and the conversion of flat water copper to rising water, traders' sentiment to receive goods is subdued, and supply and demand are weak
.
The premium copper mainstream trading pair futures contract premium of 30-40 yuan / ton, flat water copper premium 0-10 yuan
.
