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1.
Summary of copper prices in major domestic cities
| market | name of article | Material | Price range | Change | remark | |
| Guangdong spot | 1# Copper | 1 # | 35330-35530 | Yuan/ton | -410 | Tax included |
| Shanghai spot | 1# Copper | 1 # | 35360-35480 | Yuan/ton | -390 | Tax included |
| Shanghai spot | Flat water copper | 35360-35440 | Yuan/ton | -400 | Tax included | |
| Shanghai spot | Liters of copper | 35380-35480 | Yuan/ton | -390 | Tax included | |
| Shanghai | 1# Copper | 1 # | 35400-35500 | Yuan/ton | -400 | Tax included |
| Foshan spot | 1# Electrolytic copper plate | 1 # | 32800-33000 | Yuan/ton | -500 | Tax not included |
| Jinan spot | 1# Copper | 1 # | 35500-35500 | Yuan/ton | -400 | Tax included |
| Shenyang spot | 1# Copper | 1 # | 35600-35600 | Yuan/ton | -400 | Tax included |
| Beijing spot | 1# Copper | 1 # | 35550-35550 | Yuan/ton | -400 | Tax included |
| Tianjin spot | 1# Copper | 1 # | 35550-35550 | Yuan/ton | -400 | Tax included |
| Wuxi spot | 1# Copper | 1 # | 35550-35550 | Yuan/ton | -400 | Tax included |
| Xi'an spot | 1# Copper | 1 # | 35600-35600 | Yuan/ton | -400 | Tax included |
| Chongqing spot | 1# Copper | 1 # | 35600-35600 | Yuan/ton | -400 | Tax included |
| Guangzhou spot | 1# Copper | 1 # | 35600-35600 | Yuan/ton | -410 | Tax included |
| Wuhan spot | 1# Copper | 1 # | 35550-35550 | Yuan/ton | -400 | Tax included |
| Kunming spot | 1# Copper | 1 # | 35650-35650 | Yuan/ton | -400 | Tax included |
2.
Market review
Overnight, Shanghai copper opened after the low and rebounded, and then the shock fell, today Shanghai copper continued to fall, intraday decline further expanded
.
The opening price of the current month's 1704 contract was 35950 yuan / ton, and as of 15:00 pm, the latest price was 35460 yuan / ton, down 490 yuan; The lowest price of the day is 35400 yuan / ton, and the highest price is 36080 yuan / ton
.
The main opening price of Shanghai copper was 35810 yuan / ton, as of 15:00 pm, the latest price was 35190 yuan / ton, down 610 yuan; The lowest price within the day was 35120 yuan / ton, and the highest price was 35890 yuan / ton
.
In the external market, yesterday evening, London copper came under pressure and weak shock, and the decline was affected by the decline in oil prices at the end of the day, and the decline expanded
.
London copper continued its weak decline today after U.
S.
consumer spending data beat expectations and reinforced prospects for an imminent interest rate hike, weighing on the copper market by a strong dollar, while caution weighed on the copper market with mixed manufacturing data for May from China
.
Three-month copper on the London Metal Exchange (LME) was last quoted at $4,598, down 1.
6%, extending the previous day's decline of 0.
5
%.
At one point, it fell as low as 4612.
5, the lowest in four sessions, but still within
the recent trading range of about 4550-4730.
3.
Overview of the domestic copper market
On the macro front, the latest release of US economic data preferences, the US personal consumption expenditure (PCE) in April hit the highest in nearly seven years, the April existing home sales index is also the highest level since February 2006, the continued improvement of economic data caused the market to expect the Fed to raise interest rates early, and made the US dollar rise, base metals under obvious
pressure 。 Domestically, China's official manufacturing PMI for May was 50.
1, higher than market expectations of 50.
0, but Caixin China GM PMI fell slightly to 49.
2, a three-month low and has contracted for 15 consecutive months.
Short-term market caution is unabated, and copper prices are expected to maintain a weak consolidation pattern
.
In terms of the market, today's Shanghai electrolytic copper spot reported a premium of 50 yuan / ton - 100 yuan / ton, flat water copper trading price of 35360 yuan / ton - 35440 yuan / ton, and premium copper trading price of 35380 yuan / ton - 35480 yuan / ton
.
In early June, holders without financial pressure rekindled their enthusiasm
.
In the morning, the holder shipped a small amount of goods to test the waters, which was quickly digested by the market, and the spot premium quotation was raised
.
Market inquiries are active, most of them favor flat water copper to flat water copper firm, and make good copper passively top water 90 yuan / ton
.
At the end of the plate, good copper has been sold, raised to 100 yuan / ton
.
Today's market transactions are more active, not only traders receive goods for long orders, but also downstream gradually join the ranks of
bargain hunting.
If copper continues to fall and the inflow of imported copper continues to be tight, the current copper premium may continue to rise
.
4.
Copper closing situation
Today, after the opening of crude oil fell again, Shanghai copper directly fell below the 10-day moving average, and then continued to weak shock lower, Shanghai copper 1608 contract as low as 35120 yuan / ton, the final close 35190 yuan / ton, down 610 yuan / ton, down 1.
70%.
The total position of copper in Shanghai increased by 40,934 lots to 810,000 lots, with a total transaction volume of 630,000 lots
.
Today's Shanghai copper main force opened low and went low, bears increased a large number of positions to suppress, the current market risk appetite is low, the atmosphere is pessimistic, evening or low shock decline slightly slow.
