-
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 Shanghai copper shock retreated, indicating that copper prices retreated, and some bulls began to take profits and leave the market
.
The CU1901 contract traded in the range of 49540-50030 yuan / ton, and closed at 49580 yuan / ton at the end of the day, down 0.
16%
on the day.
In the external market, as of 15:40 Beijing time, the three-month London copper was reported at 6229.
0 US dollars / ton, down 0.
42% on the day, and the support level below it focused on 6200.
0 US dollars / ton
.
In terms of the market, Shanghai copper was blocked from falling after soaring overnight, and copper prices fell under pressure of 49,800 yuan / ton during the day
.
The morning market continued the previous day's quotation premium of 50-100 yuan / ton, the market inquiry enthusiasm is high, but the transaction is holding a wait-and-see trend
.
The proportion of good copper sources in imported copper has decreased, the spot zero order market of good copper has been further reduced, the quotation of good copper maintains a premium of 90-100 yuan / ton quotation and there is a transaction, the quotation of flat water copper is reduced to about 40 yuan / ton, the low transaction has improved compared with the previous day, the downstream maintains rigid demand, wet copper due to the seller dumping has converged, the quotation has narrowed compared with the previous day, the performance is relatively stable, the quotation is 200-160 yuan / ton range
.
The willingness of the market to receive goods is still hesitant and sluggish, but the holders are also unwilling to reduce the premium quotation too much, and the market shows the characteristics of
the stalemate between supply and demand.
On the news front, the Asian dollar index was broadly volatile and now trading around 96.
214, and New York Fed President John Williams said that the Fed's interest rate hike policy is not "preset", but will raise interest rates
against the backdrop of a strong economy.
On the industry front, Fitch said in a note that Chile will achieve stable production growth of 4% next year as the risk of labor strikes decreases and mines upgrade, while warning that falling ore grades pose a downside risk
to its long-term forecast.
Chilean copper mine production is expected to grow 2 percent to 5.
4 million mt
in 2018 due to increased production at major mines, Fitch said.
Anglo American, for example, added 54,100 tonnes in the first three quarters of 2018, up 13%
from the same period last year.
During the day, the Shanghai copper shock fell, the US dollar index showed a wide range of volatility, the impact on copper prices is limited, in the spot market, the downstream willingness to receive goods is still hesitant and delayed, but the holders are also unwilling to reduce the premium quotation too much, supply and demand show a stalemate and tug of war
.
From a technical point of view, the support of the moving average below the futures price still exists, but the short selling pressure at the upper 50,000 yuan / ton mark is large, and it may be in a shock adjustment
in the short term.
