October 23 Copper Market Brief Review

On Tuesday, the main contract of Shanghai copper 1912 opened at 47150 yuan / ton in the morning, and then some bears increased their positions, the center of gravity moved slightly down to around 47130 yuan / ton, until the end of midday, the afternoon still maintained a stable trend, the center of gravity remained stable at 47100 yuan / ton, and closed at 47120 yuan / ton, up 50 yuan / ton, or 0.
11%, and the daily fluctuation range was within 120 yuan / ton
.

The average price of electrolytic copper in East China of the South Reserve: 47170 yuan, down 10, the monthly discount quotation: 70 to 90, flat
.
Shanghai copper opened high and fluctuated slightly to the downside, and spot premiums came under pressure
.
Next month's ticket flat water copper premium continued to decline compared with the previous day, the morning next month's ticket liter level water copper at +50 yuan / ton in the first line, good copper at +
70 yuan / ton.
Due to the sufficient supply of goods in the market, the shippers shipped more, and the premium showed a downward trend
.
At about ten o'clock, the flat water copper premium slipped to about +40 yuan / ton, and the transaction situation failed to improve
.
The premium of the monthly ticket was relatively stable, and the willingness of holders to adjust prices was relatively weak, but the stalemate between supply and demand remained, the market was mainly wait-and-see, and the transaction weakened
compared with the previous day.
The premium copper is flat to the current month's premium of 90-100 yuan; flat water copper premium 60-70 yuan, down 10; Wet copper premium 30-40 yuan, down 10
.

The average price of electrolytic copper in South China: 47090, down 20, the monthly discount quotation: -10 to 20, down 10
.
Copper prices remained volatile above 47,000, and demand was difficult to improve
.
In the morning, flat water copper reported 0-10 premium, good copper premium 20-30, next month's ticket source is relatively cheap about 10-20 pieces, the market is mainly shipped, traders are afraid to fall cautious to receive goods, showing the characteristics of oversupply, transaction difficulties lead to a further decline
in spot prices.
At about ten o'clock, the next month's ticket flat water copper has been discounted 20-30, and the monthly ticket flat water copper report discount is about 10 to flat water, and the transaction is still not smooth
.
Overall, the spot market trading remained quiet, and the source of good copper showed signs of increasing compared with the previous day, the overall supply showed oversupply, flat water copper has entered the discount range, the follow-up trend is still not optimistic
.

The center of gravity of the market fell slightly, mainly because it is still affected by Brexit, and the current Brexit has entered the last critical period, but there are still many resistances, market risks have increased, and copper prices continue to rise and are difficult to support
.
Wait for the guidance of the external disk to test whether it can continue to stand at the 47100 yuan / ton mark
.