September 25 copper market afternoon review

Mid-Autumn Festival holiday return to the morning market Shanghai copper gap high open more than 700 yuan / ton, but high open is low at 50400 yuan / ton line sorting, the first trading day after the holiday, the early interval monthly price difference inverted widened, the morning market once the price difference reached 300 yuan / ton, and then narrowed all the way to about 250 yuan / ton, the willingness of holders to exchange cash gradually strengthened, some quotations are strong because today on the 25th there are still some long orders need to be settled, and there is a demand for the monthly ticket, which makes some holders of the morning market quotation premium 80 ~ 120 yuan / ton, However, there is little demand, led by the rapid price reduction of next month's tickets, the overall quotation of the market has fallen rapidly, and the good copper of the bills of the month soon dropped to about 100 yuan / ton, and the flat water copper of the next month's notes fell to 50 yuan / ton, and the transaction improved
.

Today's quotation cash-changers have increased significantly, but the downstream remains rigid demand, the transaction is mostly completed long-term order delivery, although the holders still have a trace of expectations for consumption before the National Day long holiday, which makes supply and demand slightly tug-of-war, but the risk aversion before the holiday also increases the number of
cash-outs.
Today's import window is closed, but the next month price spread and month-end cash reversal factors make the premium decline the dominant behavior
in the market.