-
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 Thursday, base metals generally fell, indicating a fall in copper prices, attracting short funds to enter
.
Among them, Shanghai copper opened high and low, the 1811 contract trading range was 50000-50560 yuan / ton, and closed at 50130 yuan / ton at the end, down 0.
20%
on the day.
In the external market, as of 15:37 Beijing time, the three-month London copper was reported at 6182.
5 US dollars / ton, down 0.
61% on the day, and the support level below it focused on 6150 US dollars / ton
.
In terms of the market, Shanghai electrolytic copper spot contracts reported a discount of 70 yuan / ton - 40 yuan / ton, flat water copper trading price of 50170 yuan / ton - 50280 yuan / ton, and premium copper trading price of 50190 yuan / ton - 50300 yuan / ton
.
The US dollar index rose strongly, Shanghai copper under pressure 5-day moving average shock downward, but held above 50,000 yuan, intraday copper prices hovered at 50200 yuan / ton, spot market buying is still weak, the market maintained the previous day's quotation discount of 70-40 yuan / ton
.
If traders are willing to receive goods, they can lower the price to a good copper discount of 60-50 yuan / ton, the performance of various varieties of flat water copper quality is differentiated, the difference is large, South Korea or Lufang is unwilling to expand the discount, the price is 70 yuan / ton
of discount.
The market stops and waits mostly, due to sufficient supply, weak buying, the short-term pressure on the market trend is weak, the activity of copper futures is low, the supply and demand sides have differences, the quotation continues to show a discount situation, and the expansion of the discount in the future market may be limited
.
On the news front, the Asian dollar index is volatile and strong, now trading around 95.
730, due to hawkish comments in the Fed minutes, all members agree that the September rate hike is reasonable, and there will be further gradual rate hikes, which greatly stimulated the strong trend
of the dollar index.
In terms of industry, the World Bureau of Metal Statistics (WBMS) released a report on Wednesday showing a global copper supply shortage of 25,300 tons from January to August 2018
.
Global mine copper production from January to August was 13.
57 million mt, up 1.
4%
from the same period in 2017.
Global refined copper production from January to August was 15.
57 million mt, up 0.
6% year-on-year, as production climbed
significantly in China and Chile.
Global copper consumption was 15.
6 million mt from January to August, compared to 15.
43 million mt
in the same period in 2017.
According to the report released by the World Bureau of Metal Statistics (WBMS), the global copper market supply shortage from January to August was 25,300 tons, which was expanded from 17,100 tons in January to July, and copper prices rebounded, but as the dollar index strengthened again, inhibiting copper prices to recover
.
From a technical point of view, a dead cross has formed above the MACD indicator, showing weakness, and the short-term rebound of the futures price is expected to be weak
.
Operationally, it is recommended that the CU1811 contract can consider taking a short position around 50,500 yuan / ton, and the stop loss refers to 51,000 yuan / ton
.
