-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Today's Shanghai copper main contract 1702 contract under pressure and heavy decline, especially in the afternoon opening decline significantly accelerated, closing at 44430 yuan / ton, down 1.
57% on the day, indicating that the upper selling pressure is still heavy
.
In terms of term structure, the copper market maintained a positive arrangement of near, low, far high, and the positive price difference between the Shanghai copper 1701 contract and the 1702 contract was 30 yuan / ton
.
Externally: Asian Copper Oscillation continued to fall, of which 3-month London copper fell 0.
91% to 5455 US dollars / ton, hitting a low since November 18 this year, short-term decline risks remain.
In terms of positions, on December 20, the position of London copper was 367,000 lots, a daily decrease of 11,365 lots, a decrease of five consecutive days, and this week's London copper reduced its position declined, indicating that bulls have a strong
willingness to take profits at high prices.
Macro: The Asian dollar index oscillated slightly to around 102.
9, still running
at a high level.
In the United States, the annualized rate of existing home sales rose 0.
7% in November after the NAR seasonality, compared with an expected decline of 1.
8%.
In addition, the Italian Senate approved the government's 20 billion euro bailout package for the banking sector, thus slowing
fears of a crisis in the Italian banking sector.
In terms of industry, China's refined copper imports in November were 276,730 tons, down 22.
86% year-on-year, and the cumulative import volume of refined copper from January to November was 3269273 tons, a slight increase of 0.
44% year-on-year, and the data showed that with the sharp depreciation of the RMB, domestic copper import demand declined
.
In terms of market: on December 22, Shanghai electrolytic copper spot reported a discount of 200-70 yuan / ton for the contract of the month, and the transaction price of flat water copper was 45580-44760 yuan / ton
.
The overall supply of copper in Shanghai is relatively abundant, speculators are bargaining on the low, the downstream favors the source of the month's notes, the bill factor began to significantly affect the market quotation, some traders for the end of the year before the last supplementary ticket, so that the current month's ticket supply is tight, and the next month's ticket source price difference widened to 30-40 yuan / ton
.
At the end of the afternoon, the Shanghai copper fell straight down, the basis narrowed in the next month, but it is difficult to narrow the copper discount, of which wet copper is still lacking, and there is a price difference with flat water copper, and the overall transaction is dominated by middlemen to make up tickets, and the transaction is deadlocked
.
The Shanghai copper 1702 contract fell under pressure to 44430 yuan / ton during the day, indicating that the upper selling pressure was heavier, because London copper stocks have been mainly increasing recently, and the US dollar index is running at a high level
.
It is recommended that the Shanghai copper 1702 contract can be backed by 45,500 yuan below the sky, the entry reference is around 45,000 yuan, and the target is 44,000 yuan
.
