echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai copper morning review on September 8

    Shanghai copper morning review on September 8

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Shanghai copper main force 1711 opened at 52780 yuan / ton last night, after the opening rushed to 52910 yuan / ton after falling, around the daily moving average of 52700 yuan / ton oscillation operation, low to 52528 yuan / ton, the end of the session slightly higher, recorded a doji line, closed at 52790 yuan / ton, down 260 yuan / ton, warehouse down 3374 hands to 177,000 hands
    .

    Shanghai copper

    In terms of the market, as of 2017-9-7, the spot price of SMM 1# electrolytic copper is 53060 yuan / ton, up 110 yuan / ton from the previous day, and 45 yuan / ton higher than the near-month contract, based on the enthusiasm of the downstream to take the goods the day before, the price of wet copper goods is less than near the flat water, but the market reaction is completely lower than the previous day, the quotation more buying orders have decreased significantly, the willingness of the holder to maintain value orders has increased, the quotation has been relaxed, and the premium has dropped slightly, but the transaction is still not optimistic, speculative traders play the protagonist again, and the downstream is briefly dominated by the previous day.
    Yesterday returned to cautious wait-and-see
    .

    At present, the withdrawal of capital profits has caused the metal market to have a recent pullback, copper price trend is still stable, no signal to see the turnaround, but the upper pressure will gradually increase, the RMB continues to appreciate resulting in the internal disk is difficult to keep up with the pace of the external market, it is expected that today's Shanghai copper 1711 range of 52550 ~ 52950 yuan / ton, spot mainly observe the next month basis change, is expected to discount 10 ~ liter 70 yuan / ton
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.