-
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
On Friday, Shanghai copper continued to be weak, the main month 2002 contract opened at 48580 yuan / ton, the highest intraday 49010 yuan / ton, the lowest 48560 yuan / ton, settled 48810 yuan / ton, closed 48760 yuan / ton, down 310 yuan, down 0.
63%.
The trading volume of the main 2002 contract of Shanghai copper increased by 5139 lots to 85974 lots throughout the day, and the position increased by 5294 to 112759 lots
.
In terms of external trading, during the Asian session, London copper rushed back down, and the latest quotation at 15:15 Beijing time was 6126 US dollars / ton, down 12 US dollars, or 0.
19%.
In terms of the market, domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was 48750 yuan / ton, down 210 yuan, premium 40-liter 100; Guangdong spot 1# copper price was reported at 48690 yuan / ton, down 210 yuan; Yangtze River spot 1# copper price 48800 yuan / ton, down 210 yuan, premium 110-liter 130; Shanghai spot 1# copper price was 48730 yuan / ton, down 205 yuan
.
The low-priced supply of goods in the spot market attracted some traders to buy, and the transaction activity rebounded significantly from last week, and the enthusiasm for trading increased
.
Market optimism and the imminent signing of the phase one trade agreement between China and the United States will help improve the outlook for industrial metal demand, and there is some support in the fundamentals of the copper market, and copper prices may have limited room to continue to decline
.
The rapid decline in global copper inventories is an important reason
to support the current high operation of copper prices.
According to data from the three major exchanges, as of December 31, 2019, global explicit copper stocks were 240,900 tons, down 12.
53%
from the previous year.
In the context of weak global economic consumption in 2019, the overall performance of copper used in the terminal is not optimistic, and the global refined copper production capacity is in a high position, although the current low inventory state supports copper prices, but at the same time need to beware of hidden inventory throwing
.
The new round of RRR reduction will land on January 6, 2020, and market funds are expected to return to easing, and the confidence and motivation of downstream stockpiling for the Spring Festival may be enhanced
.
However, the Spring Festival stocking procurement is not a substantial consumption improvement, and it will take time to verify
whether the future demand recovers.
