-
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 Monday, the main contract of Shanghai copper 1805 fell from the intraday high, cutting some of the intraday gains, trading in the range of 52560-51410 yuan / ton, and closing at 51960 yuan / ton, up 1.
5% per day, oscillating near the 200-day moving average in the short term
.
In terms of term structure, the positive price difference between the Shanghai copper 1804 contract and the 1805 contract slightly widened to 240 yuan / ton, and the willingness of the forward contract to rebound was higher
.
In the external market, Asian Lun copper fell under pressure, of which the 3-month London copper traded at 6992-6912 US dollars / ton within the day, and is now trading at 6941 US dollars / ton, down 0.
21% per day, still running below the main moving average group, indicating that the upper selling pressure is heavier
.
In terms of positions, on March 8, the position of London copper was 312,000 lots, an increase of 1,424 lots per day, which was the fourth consecutive day of increase, indicating that after the decline in copper prices, the long-short divergence increased
.
In terms of the market, on March 12, Shanghai electrolytic copper spot traded at a discount of 40-20 yuan / ton for the monthly contract, and the transaction price of flat water copper was 51480-51580 yuan / ton
.
The price difference of copper in the opening period of Shanghai expands to more than 300 yuan / ton, the holder resolutely raises the quotation, good copper is fully premium, the morning market quotation is good copper premium 20-30 yuan / ton, lack of interest, after 10 o'clock good copper general drop to 10 yuan / ton, flat water copper discount 40-30 yuan / ton, compared with good copper trading is slightly better, downstream and traders favor higher
.
Most holders are unwilling to continue to expand the discount
.
Some large traders sold a large number of wet copper at low prices and low-end imported flat water copper at a discount of 140-120 yuan / ton, and most of them received goods downstream, making other traders weak in
selling.
Speculators are cautious, hampered
by narrow profit margins.
On the macro front, the Asian dollar index continued to fall under pressure, now trading around 89.
9, and the 90 mark fell again, as the US non-farm payrolls data was strong, but wage growth was less than expected, making the market believe that the pace of Fed interest rate hikes will slow down, and the dollar index continued to trade around
90 in early trading.
In terms of industry, workers from the Los Pelambres Copper Miners' Association of Chile, a subsidiary of Chilean copper mining company Antofagasta Group, rejected new labor contracts proposed by management, clearing the way
for a strike.
During the day, the Shanghai copper 1805 contract rushed back down to 51960 yuan / ton, and the upper side still faced a number of moving average suppression, but the Asian dollar index fell under pressure, the weak dollar was conducive to the rebound of non-ferrous metals, and copper prices continued to decline after facing technical correction demand, so the operation needs to be cautious
.
In operation, it is recommended that the Shanghai copper 1805 contract can be sold high and low between 51500-52500 yuan / ton, and the stop loss is 450 yuan / ton
each.
