-
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 1709 continued to rebound, but cut some of the gains at the end of the day, trading at 47480-46850 yuan / ton, closing at 47250 yuan / ton, up 0.
43% per day, short-term Shanghai copper 1709 contract from June 21-June 30 when it was supported when it cut nearly 32.
8%, that is, 46500 yuan, indicating that the support near the realignment is stronger
.
In terms of term structure, the copper market maintained a positive arrangement of near low and far high, and the positive price difference between Shanghai copper 1708 contract and 1709 contract remained at 130 yuan / ton
.
In terms of external trading, Asian market London copper rushed back down, especially after the Shanghai copper closed, fell significantly, of which the 3-month London copper operating range was 5920-5883 US dollars / ton, up slightly 0.
24% to 5891 US dollars / ton, the technical support below focus on 5800 US dollars / ton
.
In terms of positions, on July 10, the position of London copper was 338,000 lots, down 701 lots per day, and the increase in positions of London copper this week may indicate that the short orders that entered last week closed the dip
.
On the macro front, the Asian dollar index is running weakly, maintaining the 0.
32% decline recorded overnight, and is now trading around 95.
7, the current technical form of the dollar index is still weak, and the risk of short-term correction remains
.
In addition, the central bank today carried out 70 billion yuan of reverse repurchase, and 50 billion yuan of reverse repurchase expired, that is, a net investment of 20 billion yuan in the open market, the first net investment
since June 19.
Markets are now focused on tonight's Fed chairman's speech and tomorrow's June trade balance
from China.
In the copper industry, it is reported that the Argentine Federal Court suspended the operation of Glencore's Alumbrer copper-gold mine in the name of pollution in order to conduct on-site investigation until the mine operators can prove that they can guarantee the repair of the damage caused by mining pollution to the environment
.
In terms of the market, on July 12, Shanghai electrolytic copper spot reported a discount of 60 yuan / ton - flat water for the monthly contract, and the trading price of flat water copper was 47030-47100 yuan / ton
.
Morning market holders took the initiative to reduce the premium and strive to exchange cash at the high, and after quoting flat water, good copper reported a discount of 30 yuan / ton - a discount of 20 yuan / ton
.
The second trading session has been reduced to a discount of 50 yuan / ton, to the end of the afternoon, flat water copper, especially cost-effective flat water copper has been difficult to find a low-price source, the discount has narrowed slightly, downstream just need to buy is also cautious, today's market transactions are mostly traders as a trader, the transaction first rose and then suppressed
.
If the discount is further expanded, it may still attract some speculators
.
The Shanghai copper 1709 contract rebounded to 47120 yuan / ton during the day, which was weaker than that of Shanghai zinc and Shanghai nickel, but its rebound pattern remained good, partly boosted by potential strikes in foreign copper
mines.
In operation, it is recommended that the Shanghai copper 1709 contract can be backed above 46,500 yuan to bargain long, enter the market reference around 46900 yuan, and target 47500 yuan
.
