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The Shanghai copper 1811 contract fluctuated at a low level, closing at 50290, down 220/0.
44%.
On the plate, the Shanghai copper low narrow range oscillation tested 50,000 points of support, the disk was weak, but the bulls still held 50,000 points
for the time being.
China's PPI data released yesterday hit a five-month low, indicating that there are still downside risks to the macroeconomy, which suppresses copper demand; At the same time, China has introduced a series of measures to stimulate the economy, and the specific effect is waiting to be verified
by macroeconomic data.
It is expected that copper prices will remain volatile, ranging from 50,000 to 51,000 points, focusing on macroeconomics
.
South Reserve East China: average price of electrolytic copper: 50160 yuan, down 280, premium quotation: -70 to -50, down 35
.
The morning market continued yesterday's pessimism, holders continued to actively adjust the price of dumping, the discount expanded again, low-priced flat water copper attracted some buyers to receive goods, good copper transactions are relatively small, the overall transaction is general, downstream consumption is not optimistic, traders are still cautious about the future market
.
Today's premium copper mainstream trading pair futures contract discount of 40-50 yuan, flat water copper discount 60-70 yuan, wet copper discount 190-200 yuan
.
South China Reserve: average spot price of electrolytic copper: 50200 yuan, down 230, premium quotation: -40 to 0, up 5
.
In Guangdong, inventories continue to stack slowly, but the proportion of warehouse receipts is relatively high, spot circulation is not as loose as the surface, coupled with the continuous weakening of copper prices, holders tentatively raised prices in the morning, flat water copper quotations returned to the premium state, but buyers are cautious about this, and when the flat water copper premium falls back to -40 yuan / ton line, the transaction begins to increase
.
Overall, downstream and traders have entered the market to purchase today, and the overall demand is average
.
The mainstream trading of premium copper is 0-10 yuan / ton for futures contracts in the month, and the flat water copper discount is 40-50 yuan / ton
.
