September 17 Copper Market Brief Review

Today's Shanghai copper main contract 1911 opened at 47400 yuan / ton in the morning, the opening is a high and then the disk oscillated downward, the center of gravity continued to fall to 47260 yuan / ton after a slight shock around 47340 yuan / ton, the afternoon plate slightly pulled up the center of gravity to maintain stability around 47320 yuan / ton until the close, closing at 47340 yuan / ton, down 350 yuan / ton, down 0.
73%.

The average price of electrolytic copper in East China of the South Reserve: 47520 yuan, down 290, the monthly premium quotation: 130 to 150, up 40
.
Shanghai copper opened low and oscillated to the downside, and after the change of month, the current month and the next month contract maintained a back structure
.
Activity in the spot market has declined this morning, the number of inquiries has decreased, and activity has decreased
.
The morning premium quotation continued the quotation level of the late yesterday and then remained relatively stable, and the transaction situation showed a downward trend
compared with yesterday.
On the whole, downstream consumption has not improved significantly, affecting the enthusiasm of market trading, and the premium water will remain at a high level
near the National Day.
Copper premium to the current month premium of 150-160 yuan, up 50; flat water copper premium 120-130 yuan, up 40; Wet copper premium 80-90 yuan, up 50
.

The average price of electrolytic copper in South China: 47,500 yuan, down 300, the monthly premium quotation: 110 to 130, up 30
.
The market fell back, the holder maintained a strong price shipment, in the morning flat water copper reported +120, +130, good copper +130, +140 or so, but the receiver was afraid to wait and see, it was difficult to have a deal
.
As the supply of goods increased, further suppressing the spot premium, flat water copper around +110 only heard that there was a transaction, good copper was sold at about +130, and receivers continued to wait for low prices
.
During the second trading session, Pingshui copper has dropped to about +90 and +100
.
Overall, today's downstream procurement has increased, and the market trade atmosphere has rebounded, but there are many shippers taking advantage of the high premium, the spot supply is oversupplied, traders are cautious to receive goods, and the overall transaction is difficult
.

Today's daily session as a whole remained stable, with a small fluctuation of about 160 yuan / ton, mainly because the macro positive information has basically been digested by the market in recent days, and the market is waiting for the Fed's interest rate cut guidance this week, so as to further judge the trend of the US dollar, which in turn affects the copper market
.
Today, Shanghai copper continues to close the solid big black column, the upper pressure Bollinger upper band, KDJ indicators form a dead cross, technical point of view Shanghai copper impulse energy is insufficient
.
In the evening, wait for the guidance of the external market to test whether Shanghai copper can continue to stand at the 47,300 yuan / ton mark
.