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The US dollar index fell again, supporting copper prices to narrow the decline, the external market basically maintained an upward trend, last weekend announced that China's January refined copper imports increased by about 13% year-on-year, indicating that the consumption expectations of the golden three peak season are obviously optimistic, the main force of Shanghai copper maintained a narrow range of fluctuations in early trading, basically relying on the support of 53,000 yuan in the first line, in the short term, the dollar interest rate hike is expected to strengthen or inhibit the rise in copper prices, but still insist on the future market copper prices soared, it is expected that Shanghai copper or maintain a narrow range in the short term
.
In terms of the market, the Spring Festival holiday has passed, downstream traders have gradually increased, market transactions have picked up slightly, copper prices today are slightly lower, downstream copper manufacturers do not trade much, most of the pre-holiday bargain stocks are sufficient, because the accumulation of spot inventory is obvious, most of the holders slightly adjust the price of shipments, some downstream manufacturers expect consumption to gradually pick up, slightly bargain hunting, supply and demand procurement atmosphere gradually heating up
.
South Reserve East China, the average spot price of electrolytic copper was 52,920 yuan, down 90 yuan; Liter discount quotation, -200 to -160 yuan, up 30 yuan
.
In East China, traders are actively shipping and the trading atmosphere is gradually warming up, but the downstream market procurement is not active enough, and the transaction is still not smooth
.
As of the close, the premium copper mainstream trading pair futures contract discount of 150-170 yuan, flat water copper discount 180-200 yuan, wet copper discount 290 yuan
.
South China Reserve, the average spot price of electrolytic copper was 53110 yuan, down 140 yuan; Liter discount quotation, 0 to 30 yuan, down 20 yuan
.
In Guangdong, Guangdong's inventory soared after the holiday, and receivers were worried about the decline in market premiums after the holiday; It is difficult for the holder to hold the price of shipments, the intraday premium continues to decline, and the overall transaction is average
.
As of the close, the premium copper mainstream trading pair futures contract premium 30-40 yuan, flat water copper discount 10 ~ premium 20 yuan
.
Scrap copper market, the market supply is obviously in short supply, the current holders of goods at a high price, downstream enterprises basically end the holiday ready to start, under the dual influence of strict environmental protection inspection and scrap seven types of copper policy, downstream recyclers are slightly wait-and-see
.
Due to the low price of recycled copper, the demand for electrolytic copper showed signs of growth, which formed a certain support
for the price.
In the short term, it is necessary to pay attention to the procurement rhythm
of downstream enterprises.
