-
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 morning, the main 1809 contract of Shanghai copper opened at 48830 yuan / ton, after a slight decline at the beginning of the session, bulls entered the market with their positions, quickly pulled up the copper price to 49120 yuan / ton, and then the shock ran at 48980 yuan / ton line, with an amplitude of about
100 yuan / ton.
At noon, bulls entered the market, copper prices climbed again, to the intraday high of 49150 yuan / ton, leading to a high selling, the shock down to 48700 yuan / ton, the end of the session short position to leave the market, the decline was suspended, closing at 48810 yuan / ton, down 180 yuan / ton
.
Copper prices continued to rise and fall during the day, briefly crossing the 49,000 yuan / ton integer mark, stabilizing at 48,500 yuan / ton, and support below the 5-day moving average gradually appeared
.
In terms of external trading, London copper opened at 6189 US dollars / ton, quickly rose above 6200 US dollars at the beginning of the session, showing a stepped shock upward, relying on the daily average to 6238.
5 US dollars / ton before 11 o'clock, after a short consolidation, further climbed up to the intraday high of 6261.
5 US dollars / ton
.
In the afternoon, London copper fell rapidly, giving up all the gains in the morning, and after entering the European session, the low of 6196.
5 US dollars / ton showed a slight recovery, blocked by 6250 US dollars / ton, around the daily moving average wide range
.
As of 17:00, London copper was trading at $6230/ton
.
In terms of the market, the recovery of Shanghai copper in the month was hindered at 49,000 yuan / ton, and on the first trading day after the change of month, due to the continuous closure of the import ratio, the amount of imported copper entering the market was limited, the quotation of the holder was firm, the morning market inquiry was positive, and the quotation of the holder was discounted by 140~100 yuan / ton, attracting traders to lead the market to receive goods, and the transaction was active
。 In the second trading session, in the positive atmosphere of the transaction, the holders collectively raised the quotation, flat water copper reported to a discount of about 120 yuan / ton, good copper quotation discount of about 90 yuan / ton, wet copper held to the discount of about 160 yuan / ton, the market has been difficult to find a low-priced source, the transaction earlier market has been suppressed, but in order to buy cash selling period traders to receive goods willingly, intraday traders as the leader, the overall market transaction picked up, but the downstream still maintain just need to buy
.
On the news front, wage negotiations at the world's largest copper mine are expected to return to the negotiating table later this week, and the possibility of supply disruptions is back in focus, but China's economic slowdown has heightened concerns that a trade war provoked by the United States will drag down the global economy and copper prices will be difficult
to rebound.
Overall, the macro aspect is short, the domestic economic data is not good, resulting in insufficient market confidence, bulls have limited space and ability, bears are waiting for the opportunity to enter the market to suppress, copper prices are accumulating strength, but the pressure above the 49,000 yuan mark is too great
.
