-
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
Today's Shanghai copper main contract 1706 gap opened low and low, the lowest touched 45010 yuan / ton, the end closed at 45180 yuan / ton, the day plunged more than 3%, the current Shanghai copper running below the moving average group, short-term vigilance of technical
selling.
In terms of term structure, the copper market maintained a positive arrangement of near low and high high, and the positive price difference between Shanghai copper 1705 contract and 1706 contract narrowed to 20 yuan/ton, indicating that the willingness of forward contracts to decline also climbed
.
External trend: Asian London copper around 5580 US dollars / ton weak oscillation, of which the 3-month London copper operating range of 5614-5543 US dollars / ton, now slightly down 0.
31% to 5575 US dollars / ton, overnight London copper plunged 3.
68%, indicating that the upper selling pressure is heavier
.
In terms of positions, on May 2, the position of London copper was 338,000 lots, an increase of 5,619 hands per day, and this week's increase in London copper fell , indicating that when the long and short divergence increased, the bears dominated
the advantage.
Macro: The Asian dollar index rushed back to around 99.
3, and the Federal Reserve kept interest rates unchanged as scheduled, which will limit the further rebound height
of the dollar index.
In addition, the market focused on China's bearish economic data, and the Caixin services PMI fell to 51.
5 in April, the lowest in 11 months, increasing market concerns about
China's economic downturn in the second quarter.
In terms of industry information, Glencore's copper production in the first quarter was 324,100 tons, down 3% year-on-year, due to declining ore tastes in some mines, floods in Peru and more than normal rainfall in the Democratic Republic of the Congo
.
Spot: On May 4, Shanghai electrolytic copper spot reported a premium of 60 yuan / ton - 100 yuan / ton for the current month's contract, and the transaction price of flat water copper was 45450 yuan / ton - 45650 yuan / ton
.
Shanghai copper gap low open, fell 1,300 yuan, now copper premium rise, pre-holiday hedging orders have unhedged and profit, holders have shipped, imported copper proportion is still limited, speculators lack of operating space, speculation enthusiasm declined, but downstream in the copper price fell when the volume of goods rebounded significantly, so that the price difference between flat water copper and good copper narrowed, the market transaction entity turned to downstream enterprises
.
The Shanghai copper 1706 contract was under pressure to 45180 yuan / ton during the day, mainly suppressed by the rise in London copper stocks and the decline in China's manufacturing and service PMI, and the current copper price fell below the moving average group, and it is necessary to be wary of technical selling pressure
in the short term.
It is recommended that the Shanghai copper 1706 contract can be backed by 46,000 yuan below the sky, the entry reference is around 45,500 yuan, and the target is around
44,800 yuan.
