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Trade Service
Review of copper trends: On Wednesday, the main force of Shanghai copper was weak and volatile
in 1610.
After the morning open, it was sideways, and the shock fell back after the second domestic opening, and the decline was small
.
After reaching the lowest point in the afternoon, it rebounded slightly, and finally closed at 37790 yuan, down 150 yuan, or 0.
40%, and the position increased by 8542 lots to 234238 lots
.
In terms of external trading, the LME March copper fluctuated and fell, opening at $4884.
5 in the morning, rising to the highest point of $4902.
5 in the morning and then oscillating, returning sideways at noon, diving down at midday, the lowest point to $4864, and closing at $4870 during the domestic trading session
.
In China, excluding banks and brokerages, Chinese listed companies held a record 1.
2 trillion US dollars
, according to Bloomberg data.
This shows that corporate investors are not optimistic about the current market environment and lack confidence in investing in new projects, as can be seen from the trend of M1 and M2 currency scissors difference, Chinese companies have appeared "liquidity trap" phenomenon
.
In the United States, the US continued poor economic data weighed on the US dollar, which was positive for commodities, but the US personal consumption expenditure performance in June remained strong and remained at a high level, indicating that US consumption can remain strong
after the surge in the second quarter.
Although the US GDP performance in the second quarter was poor, the strength of consumption can still strongly support the economic development
.
At present, the global economic environment is weak, easing stimulus is increasing, liquidity speculation continues, and commodity prices rise, but there is also a divergent trend
.
In terms of the market, the market supply is acceptable, traders are mainly shipping, the market good copper supply continues to tighten, the premium has risen sharply, and the price has risen
.
Flat water copper and wet copper remained stable, and smelters basically did not ship
.
The downstream still remained calm and wait-and-see, mainly due to factors such as declining orders and poor starts, and weak demand for spot
purchases.
On the whole, market consumption is still weak, and the overall performance is weak
both supply and demand.
The current position period copper long and short divergence is large, pressure and support are more obvious
.
London copper is still above the technical uptrend line support, and it is difficult to have a smooth decline before the
downward break.
Domestic October Shanghai copper has recently been in the main range of 37500-38500 to sort out the volatility, lack of good trend opportunities, short-term 38150 first to rebound short ideas
.
