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Today's Shanghai copper opened high and low, turned green across the board in the afternoon, the main month 2005 contract opened at 39490 yuan / ton, the highest intraday 39680 yuan / ton, the lowest 38820 yuan / ton, settled 39250 yuan / ton, closed 39000 yuan / ton, down 300 yuan, down 0.
76%.
The trading volume of the main 2005 contract of Shanghai copper increased by 2794 lots to 78286 contracts throughout the day, and the position decreased by 205 to 110620 lots
.
Today's domestic spot copper prices rose slightly, Yangtze River nonferrous metal network 1# copper price was reported at 39560 yuan / ton, up 100 yuan, 100-160 liters; Guangdong spot 1# copper price reported 39550 yuan / ton, up 100 yuan; Yangtze River spot 1# copper price 39620 yuan / ton, up 110 yuan, premium 170-liter 190; Shanghai spot 1# copper price was 39580 yuan / ton, up 145 yuan
.
Industry News:
1.
According to data from the National Bureau of Statistics, from January to February 2020, the output of ten non-ferrous metals in China was 9.
354 million tons, a year-on-year increase of 2.
2%.
Among them, the output of refined copper was 1.
527 million tons, a year-on-year increase of 2.
8%; Primary aluminum output was 5.
847 million tons, a year-on-year increase of 2.
4%; Lead production was 722,000 tons, down 10.
3% year-on-year; Zinc production was 1.
040 million tons, a year-on-year increase of 12.
9%.
The output of copper processing materials was 2.
117 million tons, down 8.
3%
year-on-year.
the output of alumina was 10.
451 million tons, down 13.
0% year-on-year; The output of aluminum products was 5.
906 million tons, down 12.
5%
year-on-year.
2.
Jiangxi Copper released its annual report, the overall target task of the Group's production and operation in 2020 is: the production of 1.
65 million tons of copper cathode, 77 tons of gold, 1025 tons of silver, 4.
788 million tons of sulfuric acid, 207,500 tons of copper in copper concentrate, 1.
63 million tons of copper rod wire and other copper processing products (This business target does not represent the company's forecast of production in 2020, whether it can be achieved depends on the macroeconomic environment, market demand and other factors, there is great uncertainty, the Group will change according to the market.
) In addition, adjust the Group's plans in due course).
After the risk of a sell-off triggering a plunge was suspended, monetary and fiscal stimulus policies in various countries stabilized the market in the short term, but the inflection point of the overseas epidemic has not yet appeared, and the recession of the economy is expected to reprice
the market.
Under the macro suppression, it is still difficult for short-term copper prices to have a trend upward, price volatility is relatively large, futures unilaterally temporarily wait and see, option holding selling wide span strategy, and the market's expectation of VAT reduction is heating up, focusing on positive set opportunities
.
