-
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 2112 contract of Shanghai copper came under pressure to the downside, with the highest 72290 yuan / ton and the lowest 70560 yuan / ton within the day, and the closing price of 70560 yuan / ton, down 2.
00% from the closing price of the previous trading day; LME copper continued to decline, as of 15:00 Beijing time, 3-month London copper reported 9645 yuan / ton, down 1.
20%
on a daily basis.
Market focus: (1) The National Development and Reform Commission and relevant departments have deployed the clean-up and rectification of
coal storage sites in coal production areas.
(2) Freeport McMoran produced £987 million of copper in the third quarter, below market expectations of £1 billion
.
(3) Peru's Antamina copper-zinc mine announced that nearby roads were blocked
by residents.
Spot analysis: SMM spot 1# electrolytic copper quotation 71900-72300 yuan / ton, the average price of 72100 yuan / ton, down 500 yuan / ton
per day.
Traders premium quotations, active shipments, downstream procurement sentiment improved compared with the previous day, low-priced sources of goods traded better, trading atmosphere warmed up, and the overall transaction performance was
acceptable.
Warehouse receipt inventory: the total number of Shanghai copper warehouse receipts in Shanghai was 11,833 tons, an increase of 298 tons per day; LME copper stocks were 153675 tons, down 1,475 tons per day, down for 20 consecutive days
.
Main position: Shanghai copper main 2112 contract top 20 long positions 91042, -6929, short positions 105367, -7778, net positions -14325, +849, long and short are reduced, net space is reduced
.
Market research and judgment: the Fed tapered its bond purchase plan, making the dollar index stronger; At the same time, China's policy to curb coal prices has become stricter, and the fall in coal prices has led to a decline in electricity costs, and market risk sentiment has been suppressed
.
Fundamentals, due to the high price of sulfuric acid, domestic refineries are more willing to schedule production under high profits; However, domestic power cuts and tightening crude copper supply have limited refinery operating rates, resulting in a lack of growth in refined copper production; In addition, the disruption to transportation in Antamina, Peru, still needs attention
.
At present, downstream demand is still weak, wait-and-see sentiment is strong, and domestic inventories have rebounded recently; Foreign countries still maintain destocking, and copper prices are generally weak
.
