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On Thursday, Shanghai copper fluctuated violently, weakening across the board, the main month 1901 contract opened at 49630 yuan / ton, the highest intraday 49690 yuan / ton, the lowest 49310 yuan / ton, settled 49450 yuan / ton, closed 49370 yuan / ton, down 130 yuan, down 0.
26%.
In terms of external trading, Asian market, London copper weak shock, Beijing time at 15:00 latest quotation of 6146 US dollars / ton, down 9 US dollars, down 0.
15%.
In terms of the market, the domestic spot copper price rose slightly, the Yangtze River spot 1# copper price was reported at 49620 yuan / ton, up 50 yuan, premium 110 - liter 130; Shanghai spot 1# copper price was 49590 yuan / ton, up 110 yuan / ton
.
In the spot market, holders are actively shipping, showing obvious characteristics of oversupply, and the transaction is still dominated by rigid demand
.
In terms of news, the General Administration of Customs released data showing that China imported 420,000 tons of unwrought copper and copper products in October, down 18.
7% month-on-month and up 27% year-on-year, and imports of unwrought copper and copper products from January to October increased by 17.
2% year-on-year to 4.
413 million tons.
In terms of inventories, LME copper stocks fell by 64,775 tonnes in October, a decline of 32%; COMEX copper stocks fell relatively modestly, down 16,286 tonnes; Domestic inventories bottomed out, increasing by 19,869 tons, an increase of 54.
4%.
It can be seen that domestic inventories have rebounded significantly, and on November 2, London copper stocks increased by 43,700 tons, and the sharp recovery of stocks still needs to be
treated with caution.
Shanghai copper 1901 contract Thursday shock adjustment, the current market, Shanghai copper 1901 contract after the early fall after the disk trend is more glue, the upper pressure, resistance is greater, the overall will still be in a weak fall, will still shock down
.
