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September 20 Shanghai copper brief commentary

 Last Update: 2022-12-12
 Source: Internet
 Author: User

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Shanghai copper maintained high volatility today, with the main contract closing at 49340 points, down 0.
28%.

With the vigorous promotion of infrastructure construction in China, internal demand is expected to improve, market sentiment has improved, and the overall trend of copper prices is strong after the bearish release of copper prices rising sharply; However, from the perspective of the plate, after the copper price continues to consolidate at a high level, there may be a technical repair
.
It is expected that the short-term copper price will run
in the range of 4.
9-50,000.

Shanghai copper

South Reserve East China: average price of electrolytic copper: 49980 yuan, up 10, premium quotation: 250 to 290, down 40
.
Cargo holders are worried about the impact of imported supplies, and they have adjusted prices to dump goods, and the premium water has rapidly declined, but buyers are afraid of high premium water and wait and see, receiving less goods, downstream transactions are light, and the overall transaction is not good
.
Today's premium copper mainstream trading pair futures premium 270-290 yuan for the month, flat water copper premium 240-250 yuan, wet copper premium 200-210 yuan
.

South China Reserve: average spot price of electrolytic copper: 49960 yuan, up 60, liter discount: 240 to 260, up 5
.
In Guangdong, spot premium quotations in the morning continued to remain firm, while the market accepted copper prices and high premiums slightly poorly, due to the expectation of pre-holiday stocking, holders were generally motivated to ship, the willingness to adjust prices was not high, and the overall transaction was relatively
deadlocked.
The premium copper mainstream trading pair futures contract premium 260-270 yuan / ton, flat water copper premium 240-250 yuan / ton, wet copper premium 200 yuan / ton
.

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