-
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 1610 contract was unable to rebound, under pressure continued to fall, the end of the day closed down to 37140 yuan / ton, down 0.
67% from last Friday's closing price, the support level of M60 below is 37015 yuan / ton, the current support is still valid
.
In terms of term structure, the copper market showed a positive arrangement of near, low, far high, and the positive price difference between Shanghai copper 1609 contract and 1610 contract slightly widened to 70 yuan / ton, indicating that the willingness of forward contracts to pull back increased slightly
.
Externally: Today's Asian Lun copper fell under pressure, the decline slightly expanded, of which the 3-month London copper fell 1.
03% to 4759 US dollars / ton, initially fell below the support of M60, that is, 4773 US dollars / ton, and the lower support moved down to M200, that is, 4720 US dollars / ton
.
In the past week, the London copper position reduction oscillation operation (a cumulative decrease of 24,000 lots), indicating that the long and short actively reduced their positions and left the market, and the sentiment of the copper market was very low
.
Macro: Today's Asian dollar index extended its rally and is now rising to around
94.
8.
In addition, the market expects that the domestic second-tier property market will introduce cooling measures, such as restarting the loan and purchase restriction policy, which will exacerbate the downward concerns of China's economy, and base metals will fall
under pressure.
Industry: China's copper scrap imports in July were 280,000 tons, up 1.
9% month-on-month, but down 21.
82% year-on-year, the fourth consecutive month of decline
.
The cumulative import volume of copper scrap from January to July was 184,000 tons, down 10.
23%
year-on-year.
Market: On August 22, Shanghai electrolytic copper spot reported a discount of 80-20 yuan / ton, and the transaction price of flat water copper was 37120-37180 yuan / ton
.
In the morning, good copper newspaper discount 20 yuan / ton started, imported good copper brands have appeared one after another, by 10 o'clock, good copper quotation has slipped to discount 40-discount 30 yuan / ton
.
However, as holders quoted relatively firm copper from flat water copper, good copper quotations stabilized
after a rapid recovery.
The supply of Monday delivery is still flowing in, and there are more
brands in the market.
The month-end note factor is beginning to appear, and the discount stalemate may remain for a while
.
Today's Shanghai copper 1610 contract fell under pressure to 37140 yuan / ton, accompanied by a slight increase in Shanghai copper positions, indicating that there is a divergence
between long and short.
Given that copper has not effectively fallen below the technical support below, and the overall bearish US dollar index interacts with China's economic downside concerns, copper prices are still volatile
.
It is recommended that the Shanghai copper 1610 contract still use 37,000 yuan as the dividing line, and it is prudent to hold
it before it falls below.
