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    Home > Chemicals Industry > New Chemical Materials > October 19 Shanghai copper brief commentary

    October 19 Shanghai copper brief commentary

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    The Shanghai copper 1811 contract fluctuated in a narrow range at a low to close at 50270, down 10/0.
    02%.

    On the market, the Shanghai copper night market once fell below 50,000 points of support and quickly rebounded, the competition for long and short was fierce, the market wait-and-see atmosphere heated up, and the trading volume declined
    .
    Yesterday, the dollar index rose further sharply, and US stocks fell sharply; China's economic data for the third quarter during the daily session was neutral.

    The stock market opened sharply lower, the vice premier of the State Council and the first bank and the two sessions both made statements on stabilizing the market and stabilizing the economy, injecting confidence into the market, and the stock market closed sharply higher, and copper prices also rose
    slightly.
    Copper prices are expected to remain volatile, focusing on the 50,000-point support level
    .

    Shanghai copper

    South Reserve East China: average price of electrolytic copper: 49980 yuan, down 250, premium quotation: -50 to -30, up 20
    .
    The market price is lower, the holder continues to hold the price of shipments, the discount shrinks again, the buyer wants to receive the goods at a low price, the difference between buyers and sellers is large, the downstream receipt has improved, but the purchase volume is still not much, and the overall transaction is average
    .
    Today's premium copper mainstream trading pair futures contract discount of 30-40 yuan, flat water copper discount 50-60 yuan, wet copper discount 150-160 yuan
    .

    South China Reserve: average spot price of electrolytic copper: 49960 yuan, down 290, premium quotation: -90 to -30, down 15
    .
    In Guangdong, the rising trend of inventory does not change, and downstream enterprises have recently entered the maintenance, demand remains flat, multiple factors drive the discount to expand again, and the low price attracts traders to enter the market, continue to receive goods at a low price, but more holders stick to flat water copper -90 yuan / ton, unwilling to adjust the price to the discount to break 100, the overall transaction is deadlocked and quiet
    .
    The mainstream trading of premium copper is 30-40 yuan / ton for futures contracts in the month, and 90-100 yuan / ton
    for flat water copper.

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