-
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 1708 did not extend the overnight decline, and from the low rose slightly, cut some of the intraday decline, showing that its willingness to fall has weakened, intraday trading at 45660-45360 yuan / ton, the end of the day closed at 45520 yuan / ton, down 0.
7% per day, the current Shanghai copper is still running below the moving average group, the risk of decline remains
.
In terms of term structure, the copper market maintained a positive arrangement of near low and far high, and the positive price difference between the Shanghai copper 1707 contract and the 1708 contract narrowed to 60 yuan / ton
.
In terms of external trading, Asian London copper around 5650 US dollars / ton around the weak oscillation, of which the 3-month London copper operating range of 5670-5630 US dollars / ton, slightly down 0.
38% to 5646 US dollars / ton, the technical support below focus on the 5600 US dollars / ton integer mark
.
In terms of positions, on June 19, the position of London copper was 342,000 lots, a daily decrease of 3,800 lots, and this week's Lun copper position fell further, further indicating that bulls have insufficient confidence in longing, and the sentiment of the copper market is relatively sluggish
.
On the macro front, the Asian dollar index oscillated slightly and is now trading around
97.
7.
The People's Bank of China (PBOC) today withdrew a net withdrawal of 40 billion yuan in the open market, suspending 14-day and 28-day reverse repurchase operations
for two consecutive days.
Watch for US existing home sales data for May tonight
.
In the copper industry, the latest monthly report of the International Copper Research Group (ICSG) shows that the global refined copper market was short of 5,000 tons in March, 102,000 tons in February, and 164,000 tons of refined copper in January-March, compared with a shortage of 12,000 tons
in the same period last year.
Among them, the global refined copper production in March was 2.
01 million tons, and the consumption was 2.
02 million tons
.
In terms of the market, on June 21, Shanghai electrolytic copper spot reported a discount of 140 yuan / ton - 100 yuan / ton for the contract of the month, the transaction price of flat water copper was 45300 yuan / ton - 45360 yuan / ton, and the transaction price of premium copper was 45320 yuan / ton - 45380 yuan / ton
.
Shanghai copper pullback, holders accelerate shipments, in order to seek transactions, the current copper discount has been expanding, especially with good copper reduction willingness is more obvious, some speculators with financial strength into the market to reduce prices, appropriate absorption of low-price sources, downstream is still low demand mainly, supply pressure is still large
.
The Shanghai copper 1708 contract oscillated to close down to 45520 yuan / ton, currently running below the moving average group, but today closed a long shadow of the black line, indicating that its willingness to fall weakened, the current Shanghai copper part to cover the gap since June 8, the short-term trend is still oscillating
.
In terms of operation, it is recommended that the Shanghai copper 1708 contract can sell high and low between 45500-46200 yuan, and the stop loss is 450 yuan / ton
each.
