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Copper Market Summary: The U.
S.
dollar index climbed to a more than two-year high, copper closed down $35 under pressure overnight, new U.
S.
-China tariffs came into effect, and escalating trade standoffs hit the outlook for industrial metal demand, and copper is expected to fall
today.
The average price of electrolytic copper in East China of the South Reserve: 46490 yuan, down 130, the price of the month's premium price: 80 to 100, flat
.
The Shanghai copper market continued to fall, and the spot market remained weak without being affected by it
.
The premium remained up, the high level stabilized, and the transaction situation was still not affected
by this.
Market activity has increased slightly, and holders are actively shipping, but their willingness to adjust prices is not high
.
The market wait-and-see mood is strong, and the willingness of cargo holders to buy is not strong
in the face of high premiums.
The two sides remained deadlocked and the transaction was light
.
The premium copper is flat to the current month's premium of 90-100 yuan; Flat water copper premium 70-80 yuan, flat; Wet copper premium 20-30 yuan, flat
.
The average price of electrolytic copper in South China: 46450 yuan, down 110, the monthly discount quotation: 40 to 60, up 20
.
Copper prices fell and inventories fell sharply, holders of strong sentiment, flat water copper began to report +50 in the morning, good copper +90, +100, up 40-50 yuan from yesterday, traders temporarily waited and watched, the transaction was deadlocked
.
As the supply of good copper has increased one after another, the premium has fallen rapidly to +60, +70, and some transactions have been made, while flat water copper is firm in the +50 line, traders want to buy flat water copper, but are afraid of heights and hesitate, some cheap sources can be +40 transactions
.
During the second session, it is difficult to find flat water copper in the market, and traders have the willingness
to continue to receive goods.
Overall, the sharp drop in inventory is good for premium, and the receiver is afraid of heights and hesitates, but the supply of flat water copper is still not much, and it is difficult to have room for price reduction, good copper due to the outflow of warehouse receipts, the supply increases, and the price difference with flat water copper narrows
.
