-
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, the main contract of Shanghai copper 1607 oscillated for the third consecutive day to stabilize, closing at 36240 yuan / ton at the end of the day, up slightly by 0.
78% from yesterday's closing price, the current Shanghai copper main force from this round of pullback low of 35670 yuan / ton up 1.
6%, but still running under the main moving average group, short-term decline risk has not been fully released
.
In the external market, Asian market London copper once again rushed back down, of which the 3-month LME copper rose 0.
67% to 4723 US dollars / ton at the close of the Shanghai copper market, the current London copper is still running below the moving average group, indicating that the upper selling pressure is heavier, its performance is slightly weaker than Shanghai copper, and the daily closing price is close to the low set on April 11 of the year
.
Macro: The Asian dollar index stabilized and is now trading around 94, as expectations of the Fed's June interest rate hike have weighed on non-ferrous metals
.
The focus is on the Bank of England interest rate meeting tonight, which is expected to remain unchanged, but watch for future meeting statements
.
In addition, the market is currently focused on a series of Chinese economic data on the 14th, and it is expected to be neutral and bearish
.
In terms of market: on May 12, Shanghai electrolytic copper spot reported a premium of 20-70 yuan / ton, and the transaction price of flat water copper was 35780-36120 yuan / ton
.
In early trading, copper premium showed a pattern
of expansion first and then receiving.
Traders bought and sold aggressively in the morning, and holders were reluctant to sell, so that the price of good copper rose rapidly from 50 yuan / ton to 70 yuan / ton
.
With the rise in market prices, holders began to actively ship, market supply increased, and copper premium was suppressed, so the transaction activity gradually faded
.
Downstream is therefore stocked for several days and wait-and-see
.
News: Chile's copper exports in March were 550,700 tons, a sharp increase of 61.
87% month-on-month and 34.
8% year-on-year, but the cumulative export of copper from January to March was 1.
42 million tons, down 3.
7% year-on-year, as Chilean copper production from January to March this year fell 3.
5% year-on-year to 1.
4 million tons
.
Overall, the Shanghai copper 1607 oscillation rebounded to 36240 yuan / ton, but still ran below the moving average group, indicating that the upper selling pressure was heavier, weighed
down by global economic growth concerns and the strengthening of the US dollar index.
It is recommended that the Shanghai copper 1607 contract can still hold short orders cautiously under 36600 yuan, and the target is 35500 yuan / ton
.