September 10 Copper Market Brief Review

Today's Shanghai copper main contract 1911 opened at 47390 yuan / ton in the morning, the opening was the highest of the day 47500 yuan / ton, and then it went down to 47380 yuan / ton, and then continued to rebound upward until the end of midday, the afternoon opening continued to test the high to 47480 yuan / ton, after the high continued to fall back to 47370 yuan / ton, the end of the session slightly pulled up and closed at 47430 yuan / ton, up 30 yuan / ton, or 0.
06%.

The average price of electrolytic copper in East China of the South Reserve: 47450 yuan, up 70, the monthly discount quotation: 110 to 120, flat
.
Shanghai copper rebounded higher on a daily basis, and spot market trading came under pressure
.
Traders are actively shipping in the morning, but the overall market activity is not high
today.
The premium quotation is mainly stable, and the mainstream transaction price is basically the same
as yesterday.
After the first trading session, the market weakened
significantly.
Approaching the holiday, there is a demand for stocks downstream, which can stimulate transactions to a certain extent, but in the face of high premiums and high copper prices, today's market trading as a whole still maintains a weak situation, the market stops and watches, and the transaction is general
.
The premium copper was 120-130 yuan for the month, which was flat; Flat water copper premium 100-110 yuan, flat; Wet copper premium 50-60 yuan, flat
.

The average price of electrolytic copper in South China: 47430 yuan, up 80, the monthly discount quotation: 90 to 100, up 10
.
Shanghai copper sideways to maintain stability, holders continue to try to raise prices, flat water copper began to report +90, +100 yuan / ton, good copper +100, +110 yuan / ton, traders into the market to receive goods more active, morning transaction is good
.
After ten o'clock, there are still a lot of market supplies, and after most of the demand is met, the transaction has stagnated, and the gravity of flat water copper has fallen back to +90 yuan / ton, and good copper has also fallen to +100 yuan / ton
.
Overall, yesterday there were a large number of warehouse receipts written off to replenish the source of spot goods, pre-holiday holders took advantage of the premium to exchange cash, the supply increased, and the downstream before the holiday also need to enter the market for stocking, the demand is acceptable, today's overall trading atmosphere is good, the premium rose
slightly.

The daily Shanghai copper volatility strengthened, mainly because today's release of domestic August CPI data in line with expectations, boosting market sentiment, coupled with the recent macro positive factors, the market risk aversion has eased, CMX gold broke the 1500 mark for the first time, short-term positive copper prices
.
At present, Shanghai copper closed in the sun, supported by a number of moving averages below, MACD red column continued to lengthen, technical favorable at the same time, waiting for external guidance in the evening, testing whether Shanghai copper can continue to stand firm and rush up to the 47600 yuan / ton mark
.