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    Home > Chemicals Industry > New Chemical Materials > September 27 Shanghai copper brief commentary

    September 27 Shanghai copper brief commentary

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    Today's Shanghai copper main 1811 contract morning market opened at 59490 yuan / ton, the beginning of the session Shanghai copper continued the overnight late trend, bears continued to reduce positions, copper prices quickly touched 50560 yuan / ton, then long profit exit, short positions in, copper prices fell below the daily moving average, the center of gravity continued to move down, and then along the 50328 yuan / ton around a narrow range
    .
    In the afternoon, a large number of long positions were reduced, and the center of gravity of copper prices continued to fall, during which it touched the low of 50,070 yuan / ton in the day, temporarily holding the 50,000 yuan / ton mark, closing at 50,130 yuan / ton, down 450 yuan / ton, down 0.
    89%.

    Shanghai copper

    South Reserve East China: average price of electrolytic copper: 50490 yuan, down 160, premium quotation: -20 to 10, down 20
    .
    Near the end of the quarter, traders mainly exchange cash, holders continue to actively ship, some buyers receive flat water copper from the monthly ticket, good copper consumption is less, downstream demand after receiving goods on demand cautiously, the overall transaction is average
    .
    Today's premium copper mainstream trading pair futures that month premium 0-10 yuan, flat water copper discount 10-20 yuan, wet copper discount 60-70 yuan
    .

    South China Reserve: average spot price of electrolytic copper: 50590 yuan, down 160, premium quotation: 80 to 120, down 15
    .
    In Guangdong, although the inventory decline is large, but the holders are still holding the dumping sentiment, in order to quickly complete the transaction in the morning to actively reduce the price of shipments, and after the previous period of stocking, today's downstream procurement is general, even slightly less than yesterday, the transaction is relatively flat
    .
    Overall, downstream enterprises still have stocks, but the procurement is not as expected, and traders are cautious in receiving goods, and the transaction situation is average
    .
    The premium copper mainstream trading pair futures contract premium of 110-120 yuan / ton, flat water copper premium 70-80 yuan / ton
    .

    Today's Shanghai copper 1810 and 1811 contract positions decreased by a total of 24316 lots, and the price difference between the current month and the next month widened to about
    170 yuan / ton today.
    The Shanghai Copper Index today had an outflow of 522 million yuan, ranking first in the nonferrous sector outflow funds, and bulls mainly
    hated and left the market.
    The main force of Shanghai copper closed three consecutive negatives today, and today's center of gravity also fell below the center of gravity of the short green column the previous day, the lower shadow pointed to the 5-day moving average, the green column body fell to the upper band winding on the Bollinger band, the MACD red energy column showed a weakening trend, and the KDJ tended to converge
    .
    Pay attention to the performance of long positions in the evening, and on the last trading day before the holiday, it is likely that it will still be mainly to reduce positions and hedge, and test whether the main force of Shanghai copper can support the 5-day moving average
    in the evening.

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