-
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 Wednesday, the main contract of Shanghai copper 1607 rebounded weakly, and still closed down to 37230 yuan / ton at the end of the day, down 1.
79% from yesterday's closing price, falling back to the low point since April 19 this year, and down 4.
62%
from the high of 39040 yuan / ton in this round of rebound.
Intra-day Asian London copper was unable to rebound, with the three-month LME copper falling slightly to $4,899/mt at the close of the Shanghai copper market, maintaining the high 2.
54% decline recorded overnight
.
At present, London copper is running at the intersection of moving averages, but it is still barely stable above M60, that is, $4816/mt in the short term
.
Macro: China's Caixin manufacturing PMI fell to 49.
4 in April, the 14th consecutive month below the 50-boom-dry dividing line, indicating that the domestic industrial recovery base is still relatively weak, dragging down the copper market demand outlook, in addition to the overnight dollar index oscillation strengthened, now trading around
93.
Market: On May 4, Shanghai electrolytic copper spot reported a discount of 100 yuan / ton - a discount of 20 yuan / ton, and the transaction price of flat water copper was 37000-37100 yuan / ton
.
The price spread narrowed to 60 yuan / ton - 80 yuan / ton
in the next month.
At present, traders' expectations for the current copper to premium are relatively uniform, and the market's willingness to buy at the dip continues
.
The weakness of Shanghai copper during the day was mainly suppressed by the poor performance of China's manufacturing PMI in April and the rebound of the US dollar index, but at present, Shanghai copper is still barely running above M60, and its trend should not be too pessimistic
in the short term.
It is recommended that the Shanghai copper 1607 contract can be cautiously long above 37,000 yuan, and the target is 38,000 yuan
.
