-
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 Wednesday, the main contract of Shanghai copper 1606 rushed back down, showing that the upper rebound was blocked, closing at 37350 yuan / ton, up 1.
22% from yesterday's closing price, and at the same time down 0.
98% from the intraday high of 37720 yuan / ton, so that Shanghai copper continued to run at the interweaving of moving averages, and the short-term operating range focused on 36500-38000 yuan / ton
.
In terms of external trading, Asian London copper around M200 oscillation sorting, of which 3 months LME copper in Shanghai copper closed slightly down 0.
38% to 4924 US dollars / ton, but the current London copper is far above M60, the short-term rebound pattern remains good, the technical support below focus on 4800 US dollars / ton
.
In the past week or so, copper prices have been reducing positions and oscillating and sorting, indicating that bears actively reduce their positions and leave the market, which also means that the overall sentiment of the copper market has not rebounded
significantly.
Macro: The Asian market dollar index is weak and oscillating, now trading around 94, while U.
S.
crude oil futures are under pressure to decline, but the internal commodity market is still strong long, especially ferrous metals and chemical varieties reappear up and down, optimism is transmitted to the non-ferrous metals market
.
Market: On April 20, Shanghai electrolytic copper spot reported a discount of 150-100 yuan / ton, and the transaction price of flat water copper was 37120-37380 yuan / ton
.
During the day, some holders took the initiative to significantly reduce the discount
by taking advantage of a large number of shipments.
However, there are also early value hedgers who are trapped, shipments are blocked, and they cannot follow the expansion of the discount
.
Copper supply is abundant in the market, but the performance of holders has diverged, and flat water copper and wet copper are relatively more popular.
After the rise in copper prices, the downstream maintained a rational wait-and-see
.
The overall market buying is weak, and the main contribution of trading is still middlemen
.
Overall, driven by the strong rise in peripheral commodities, while China's economy has seen positive changes in the short term, giving copper prices upward momentum
.
In view of the recent relative stagnation of non-ferrous commodities, in the context of more market sentiment, we can pay attention to the possibility
of supplementary rise in the later period.
