October 18 Copper Market Brief Review

The main contract of Shanghai copper 1912 opened at 46650 yuan / ton in the morning, and the center of gravity maintained a shock finishing near 46650 yuan / ton after the opening, which lasted until an hour before the close, and then fell to the lowest level of the day of 46580 yuan / ton, and rebounded slightly at the end of the session and closed at 46650 yuan / ton, down 230 yuan / ton, or 0.
49%.

The average price of electrolytic copper in East China of the South Reserve: 46730 yuan, up 40, the price of the month's discount: 70 to 90, up 15
.
In the morning, the market briefly rose to rise, but the transaction price fell rapidly, and the premium was basically stable at flat water copper + 70 yuan / ton, good copper + 90 yuan / ton, the transaction situation was better
.
In the second quarter, the premium quotation rose slightly again to flat water copper +80, good copper +100, but the market acceptance was low, and the mainstream transaction price of flat water copper was basically around +70
.
Recently, the arrival of imported copper has decreased, intraday consumption has improved slightly, and the premium has continued to rebound
slightly.
Copper premium to the current month premium 90-100 yuan, up 20; flat water copper premium 70-80 yuan, up 10; Wet copper premium 40-50 yuan, up 20
.

The average price of electrolytic copper in South China: 46670, up 10, the monthly discount quotation: 10 to 30, down 15
.
On the weekend, many holders avoided safe shipments, the supply was more sufficient, in the morning flat water copper reported +30 yuan / ton, good copper + 50 yuan / ton, while traders cautiously waited and watched, the price of price receipt sentiment is obvious, temporary transaction is more difficult
.
Holders quickly reduced prices in pursuit of transactions, flat water copper gradually dropped to +20, and finally +10 yuan / ton, imported flat water copper was sold at a discount of about 10 yuan / ton, good copper + 30 yuan / ton
.
After the low price began to be traded for a while, the market fell into a stalemate again, and the receiver had already asked Pingshui to buy domestic Pingshui copper, but some holders chose to cover the order to deliver long orders, and the willingness to ship at low prices was not high
.
Overall, the market is generally not optimistic about the trend of premium, all have to receive goods at low prices, and there are not many receivers on weekends, and the lack of transaction has led to a decline
in premiums.

The market continued to maintain stability, mainly due to the continued weakness of the recently released global economic data, and the market intensified concerns about macroeconomic weakness; At the same time, the current blockage of Brexit negotiations has aggravated market uncertainties, and Shanghai copper has maintained stability
at a low level.
At present, Shanghai copper has lost all moving average support, MACD green column continues to lengthen, waiting for the external guidance test whether it can continue to hold the 46500 yuan / ton mark
.