-
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 Tuesday, the main 1701 contract of Shanghai copper opened at 40460 yuan / ton, after the opening copper price above the daily moving average of 40350 yuan / ton for a short stay, and then driven by the surrounding market atmosphere, bulls actively increased their positions, the copper price quickly pulled up to 40730 yuan / ton, in the afternoon with the black series plummeted, Shanghai copper bulls have closed their positions to avoid risk, copper prices fell instantly, rebounded after stepping on the daily moving average, recovered most of the decline, and closed at 40450 yuan / ton at the small white line
.
Intraday Shanghai copper relied on the daily moving average high volatility, Hillary Clinton's rising support rate supported copper prices to maintain a high level, but bulls short-term operations cautiously wait for the election results
.
Shanghai copper is expected to remain strong, but need to be wary of profit-taking
.
In terms of the external market, London copper opened at 5090 US dollars / ton, after the opening London copper in the daily average of 5082 US dollars / ton slightly consolidated, and then driven by market optimism, bulls actively increased positions, the center of gravity of London copper rose to a high of 5105 US dollars / ton, hitting an 8-month high of 5110 US dollars / ton, the afternoon black was plummeted due to the exchange fee increase, London copper bulls closed their positions at a high level for safety, copper prices leaked straight down, giving up all the gains, and then the LME announced that copper inventories fell by 6775 tons, The proportion of written off warehouse receipts was 44.
08%, copper prices stopped falling and stabilized, consolidating around the daily moving average of 5090 US dollars / ton, recording an intraday low of 5063 US dollars / ton, as of 17:30, London copper reported 5067 US dollars / ton
.
In terms of the market, Shanghai copper continued to rise, the current copper premium narrowed, the morning market copper quotations were once disordered, as speculators entered the market in large numbers to absorb low-priced sources, buying and selling period, the source of cash copper has decreased, especially premium copper is favored, entering the second trading session, some holders due to long-term order delivery demand into the market to receive, flat water copper sources decreased, the premium rose earlier, near noon, Shanghai copper further rapid rise, the basis between contracts widened, making it difficult for holders to quote, transaction is also hindered, The downstream wait-and-see mood is still above 40,000 yuan, and the market transaction is dominated
by middlemen.
In the afternoon, the plate fluctuated widely, undulating greatly, some middlemen entered the market to absorb the good copper of low premium, and traders kept a large number of envelopes, unable to ship, good copper premium was raised to 80 yuan / ton - 90 yuan / ton, flat water copper premium rose to 40 yuan / ton - 50 yuan / ton, the transaction price was 40370 yuan / ton - 40630 yuan / ton, in the afternoon the middleman inquiry was positive, but the source of goods was reduced, and the willingness to rise up again
.
In terms of the market, data released by the General Administration of Customs showed that domestic unwrought copper and copper imports in October fell by 31.
5% year-on-year to 290,000 tons, and the growth rate of domestic unwrought copper and copper imports has continued to shrink since June this year, and the processing fee level of domestic smelters continued to be at the highest level of 100-105 US dollars / ton in the same period, and the processing enthusiasm of smelters was generally high
.
Domestic imports of unwrought copper and copper products in the first ten months of this year increased by 7% year-on-year to 4.
08 million tons
.
Overall, the copper market, which has rebounded since late October, is now beginning to show upward pressure, focusing on copper prices near the previous high of $5,130 in the short term
.
In the short term, after Shanghai copper broke through the 40,000 yuan integer mark upward, the bull atmosphere was strong, the long funds performed positively, the average combination was arranged in a long position, and the futures price was supported below, it is recommended that investors treat the long idea, continue to hold the long position, pay attention to the dynamics of the US election and changes in market sentiment
.
