September 12 Copper Market Brief Review

On Wednesday, the main Shanghai copper contract 1911 opened at 47320 yuan / ton in the morning, and the opening fluctuated down below the daily moving average to the 47200 yuan / ton mark, and then immediately recovered, and the center of gravity briefly stabilized around 47250 yuan / ton until noon
.
In the afternoon, the highest level of the day was 47340 yuan / ton, and then the center of gravity fell back to around 47300 yuan / ton, and the end of the session closed at 47290 yuan / ton, down 100 yuan / ton, down 0.
21%.

South Reserve East China electrolytic copper: 47300 yuan, down 150, the month's premium quotation: 120 to 140, up 15
.
Copper prices fell during the day, and the sentiment of holders to support prices further pushed up the premium, the market price increase and price space is small, and the supply of low-price goods is less, and the transaction is more difficult
.
The high premium water hit the downstream buying sentiment, and the characteristics of the wait-and-see stalemate are obvious
.
The market atmosphere is weaker than the previous day, the activity is not high, the trading is weak, and the transaction is not very good
.
The premium copper rose 130-140 yuan for the month, up 10; flat water copper premium 110-120 yuan, up 10; Wet copper premium 70-80 yuan, up 20
.

South China Reserve South China electrolytic copper: 47270 yuan, down 160, the month's premium quotation: 100 to 110, up 10
.
Copper prices fell slightly, and demand before the Mid-Autumn Festival performed well, holders continued to ship at high prices, and in the morning flat water copper concentrated on +100 yuan / ton, good copper reported +110 yuan / ton, and began to trade one after another; During the second trading session, there are still many holders in shipments, but the transaction is not as smooth as the morning market, and traders are afraid of high prices
.
In general, the holders took advantage of the high enthusiasm for shipments, and the demand below entered the market to purchase, while traders hedged before the holiday, and the willingness to actively receive goods decreased, and the overall transaction performance within the day was acceptable
.

Shanghai copper continued to maintain a volatile pattern during the day, with a fluctuation range of 150 yuan / ton, as investors are currently focusing on the Fed's interest rate decision and the European Central Bank's policy meeting, thus affecting the strength of the US dollar, further judging the trend of Shanghai copper, copper prices overall remained stable around
47300 yuan / ton.
At present, Shanghai copper is closing in the sun, the upper pressure 5-day moving average, MACD red column has been shortened, the technical impulse energy is insufficient, vigilance of Shanghai copper fall risk
.