-
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 1704 stopped falling and recovered slightly, closing at 48770 yuan / ton at the end of the day, up 170 points, or 0.
35%, from the settlement price of the previous trading day, with a position of 230668 lots, a daily increase of 3476 lots, and a volume of
321866.
In terms of term structure, the copper market maintained a positive arrangement of near low and far high, and the positive price difference between the Shanghai copper 1703 contract and the 1704 contract widened to 250 yuan / ton, indicating that the forward contract has increased
its willingness to rise.
Externally: Asian London copper oscillated higher, of which the 3-month London copper rose to 6024 US dollars / ton, now trading around 6014 US dollars / ton, re-stabilized above
the moving average group.
In terms of positions, the position of London copper on February 16 was 327,000 lots, an increase of 2,589 lots, and the pullback of the increase indicated that short-term bulls took profits and bears dominated
.
Macro: The Asian dollar index traded sideways today, falling as low as 100.
74 and now trading at 100.
94
.
In addition, the UK January seasonally adjusted retail sales monthly rate and the UK January quarterly adjusted core retail sales monthly rate are both higher than the previous value, but far below market expectations, the pound plunged 100 points, losing the 1.
24 mark
.
On the industry front, Chile's Escondida copper mine said Sunday that company representatives would attend government-sponsored talks with striking workers on Monday, provided the union did not interfere with the shift change of non-union employees
.
In terms of market: on February 20, Shanghai electrolytic copper spot traded at a discount of 250 yuan / ton - 80 yuan / ton for the monthly contract, flat water copper traded at 48030-48250 yuan / ton, and premium copper traded at 48130-48370 yuan / ton
.
Holders maintained the level of quotations after last week, the supply of copper is more abundant, after the second trading session, the current copper discount quotation is more loose, there is a decline, near noon, copper fell slightly again, the market bargain consumption slightly improved, the volume of goods received increased earlier, the overall trading volume is general, mostly middlemen
.
The main contract of Shanghai copper ended a three-day consecutive trading day correction, and after sideways trading
, it rose slightly.
Today, Chilean copper mining workers and management will participate in government-sponsored negotiations, and the strike is expected to end
in 5 days.
On the technical side, the position volume is significantly larger than during the pullback, indicating that the upward momentum is abundant, and there is a 20-day line and cost price support
below.
Operationally, it is recommended that the Shanghai copper 1704 contract be retraced to buy, with a long reference of 48,600 yuan / ton and a stop loss reference of 48,000 yuan / ton
.
