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Copper market summary: Oil prices plunged dragged down commodities, overnight London copper closed down $39, China's August electrolytic copper production increased year-on-year, but consumption has signs of recovery to provide bottom support, copper is expected to fall
slightly today.
Today's Shanghai electrolytic copper spot contract reported a premium of 160 ~ 210 yuan / ton, the transaction price of flat water copper was 47440 yuan / ton ~ 47550 yuan / ton, and the trading price of premium copper was 47470 yuan / ton ~ 47570 yuan / ton
.
Shanghai copper continued to fluctuate in the pattern, hovering at 47,300 yuan / ton
.
Holders have a strong willingness to raise prices, the morning market quotation premium 160 ~ 190 yuan / ton, traders inquiry active, 160 ~ 170 yuan / ton of flat water copper and 190 yuan / ton of good copper sources are quickly poured in by traders to receive
.
At about ten o'clock, under the guidance of some traders, buying increased, transaction activity increased significantly, and another round of receipt led to a rapid rise in premium quotations, flat water copper increased to 190 yuan / ton, good copper quotations premium 200 ~ liters 210 yuan / ton range, but the high transaction slowed down
.
Today, the enthusiasm of some downstream pre-holiday replenishment has slightly increased compared with before, the source of wet copper is difficult to find, and the tight price of goods is high, raised to 120 ~ 140 yuan / ton
.
There are still long orders delivered before the National Day holiday, the market still has the willingness to replenish, the overall market is facing various consumption expectations, and the inventory increment is limited, traders take the lead in leading the receiving boom, and the trend of strong quotations this week is difficult to change
.