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October 23 Copper Market Afternoon Review

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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Copper Market Summary: Britain's failed Brexit plan at the end of the month hit the pound down, boosting the dollar, and London copper closed down $15 overnight as traders weighed the impact of Chilean protests on supply, expecting copper to fall
slightly today.

Copper City

Today's Shanghai electrolytic copper spot contract reported a premium of 30 ~ 80 yuan / ton, flat water copper trading price of 46990 yuan / ton ~ 47060 yuan / ton, and premium copper trading price of 47010 yuan / ton ~ 47080 yuan / ton
.
Shanghai copper fell under pressure below 47,000 yuan / ton
.

The willingness of holders to exchange cash is gradually strengthened, but some quotations are strong and there is a demand for the monthly ticket, which makes the holder in the morning market quotation premium 50 ~ liter 80 yuan / ton, but the demand is little, in the next month pass rapid price reduction led, the overall market quotation fell rapidly, the monthly ticket adjusted to the premium 50 ~ liter 70 yuan / ton nearby, next month ticket flat water copper dropped to the premium 30 ~ liter 50 yuan / ton nearby, the transaction has improved, wet copper source from the premium 30 yuan / ton down to flat water
.
The price difference
between the current monthly pass and the next month's note is 20~30 yuan/ton.
Today's quotation cash-changers have increased significantly, but the downstream remains rigid demand, the transaction is mostly completed long-term order delivery, the risk aversion before the national tax upgrade has also increased the cash-freezers, and under the pattern of oversupply, the cash exchange factor makes the premium decline become the dominant behavior
of the market.

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