October 22 Copper Market Brief Review

On Monday, the main contract of Shanghai copper 1912 opened at 47070 yuan / ton, and then rose slightly, until the afternoon market closed an hour before pulling up to the highest level of the day 47180 yuan / ton, and then due to lack of market confidence, it was difficult to stand firm at the high, and then the trend was weak and fell all the way to the close, closing at 47020 yuan / ton, up 310 yuan / ton, or 0.
66%.

The average price of electrolytic copper in East China of the South Reserve: 47180 yuan, up 450, the monthly discount quotation: 70 to 90, flat
.
In the morning, the Shanghai copper gap opened high, the spot premium was under pressure, and the market waited and watched
.
In the morning, the cargo holders held up the price, but the weakness of consumption depressed the premium, the next month's ticket flat water copper quotation is +50, +60 yuan / ton, there is a small number of low-priced sources of transactions, the monthly ticket flat water copper quotation is +70, +80 yuan / ton, good copper in +90, +100 yuan / ton
.
Until the noon break, the price of the monthly pass was relatively stable, and the willingness of the holders to adjust the price was low
.
The overall transaction during the day was not good, and the supply and demand sides were relatively deadlocked
.
The premium copper is flat to the current month's premium of 90-100 yuan; Flat water copper premium 70-80 yuan, flat; Wet copper premium 40-50 yuan, flat
.

The average price of electrolytic copper in South China of the South Reserve: 47110, up 440, the monthly premium quotation: 0 to 30, down 5
.
On Monday, the market atmosphere was quieter, the monthly ticket flat water copper began to report +20, good copper +30, +40 or so, and because the tax system will be upgraded at the end of the month, the market began to appear in advance of the next month ticket quotation, the next month ticket flat water copper +0, +10, a difference of about
10 yuan.
Some buyers need to make up input, and the monthly ticket flat water copper can be sold +20 yuan / ton, but after the demand is met, the transaction is difficult
.
The holder had to reduce the price of shipment, the current month's ticket Pingshui copper reported to +0, +10, good copper +30, the next month's ticket Pingshui copper reported -10, Pingshui about
.
Overall, copper prices rose sharply to suppress demand, trading was weak, and the market maintained a lack of optimism about the trend of premiums, and spot premiums continued to fall
under pressure.

The intraday market trend first rose and then declined, due to the recent weak economic data in the United States and the impact of the recent rise of euro foreign exchange, the US index continued to maintain a low of 97.
3 in the daily session, and the center of gravity of Shanghai copper rebounded to the 47000 mark to maintain stability
.
However, the global macroeconomic weakness is difficult to change, vigilant of copper prices after the short-term rise of the risk of falling, at present Shanghai copper MACD continues to close the green column, waiting for external guidance, test whether Shanghai copper can continue to stand at the 47,000 yuan / ton mark
.