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London copper rose slightly on Friday, but overall volatility remained high, as global stocks rebounded from the plunge as China's strong export data eased concerns about
the world's second-largest economy and the trade war between China and the United States.
Copper market fundamentals, the three major exchanges copper inventories are low, supporting copper prices
.
Today's Shanghai electrolytic copper spot contract reported flat water ~ liter 60 yuan / ton, flat water copper trading price 50820 yuan / ton ~ 50920 yuan / ton, premium copper trading price 50840 yuan / ton ~ 50960 yuan / ton
.
Shanghai copper rose slightly
.
Around 50800 yuan / ton a line of strong volatility, today is the last trading day of the 1810 contract, most of the market has turned to the next month 1811 contract quotation, the next month price difference fluctuates frequently between 0-20 yuan / ton, but according to the SMM copper price methodology, SMM is still quoted
on the 1810 contract.
Market inquiries are active
.
The monthly price of the early interval is still fluctuating between 20 yuan / ton, the price difference does not fluctuate much, and the spot price for the 1811 contract is 40~90 yuan / ton
.
Subsequently, the price difference in the next month was flat for a long time, the market willingness to receive goods was sluggish, but the willingness to ship at high was strong, and the quotation was helpless, good copper quickly dropped to 30~40 yuan / ton, flat water copper quotation flat water ~ premium 20 yuan / ton, market wet copper quotation from discount 60 yuan / ton to discount more than
100 yuan / ton.
It can be seen that today's downstream receiving initiative is poor, although the entire market is active in inquiry, but the trading is light, highlighting the stalemate on Monday and delivery day
.
After the National Day, the market arrival volume increased significantly, copper prices are in a continuous rebound, downstream high replenishment willingness is low, but the import window has been closed after the holiday, and the holders have not yet had financial pressure in the middle of the month, so the first day of supply and demand after tomorrow's change of month may show a period of deadlock, waiting for the right to say which side
of supply and demand.
