-
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 Thursday, the main 2107 contract of Shanghai copper opened low and went low, with the highest 73,500 yuan / ton and the lowest 72,610 yuan / ton during the day, and the closing price was 73,020 yuan / ton, down 0.
90% from the previous trading day's closing price; LME copper shock adjustment, as of 15:00 Beijing time, 3-month London copper was reported at 10134 US dollars / ton, up 0.
22%
per day.
Market focus: (1) ECB President Christine Lagarde said the central bank will continue to provide support to the eurozone until the economy recovers
"fully" from the pandemic-induced double-dip recession.
(2) Chile's mining minister said the government is "very confident" of cutting copper royalties to remain competitive
with other major producers.
The comments helped ease concerns
about copper supplies.
Spot analysis: On June 3, spot 1# electrolytic copper quotation 72760-73060 yuan / ton, the average price of 72910 yuan / ton, down 730 yuan / ton
daily.
The downstream has not seen significant improvement, traders are mainly circulating, and the transaction is average
.
Warehouse receipt inventory: Shanghai copper warehouse receipts totaled 144642 tons on Thursday, a daily decrease of 4401 tons; On June 2, LME copper stocks stood at 123,350 tonnes, up 2,650 tonnes
per day.
Main positions: the top 20 long positions of Shanghai copper main 2107 contract were 87272 lots, minus 2353 lots, short positions were 87681 lots, daily minus 2994 lots, net short positions were 409 lots, daily minus 641 lots, long and short were reduced, net space decreased
.
Market research and judgment: Shanghai copper 2107 opened low and went
low on June 3.
The dovish attitude of the head of the European Central Bank put pressure on the euro, and the dollar index stabilized and rebounded; In addition, the US non-farm payrolls data is about to be released, and if the data is strong, it will increase the Fed's consideration of reducing the size expectation, which in turn will hit risk sentiment
.
Upstream Peruvian presidential elections continue to ferment mining political risks, and BHP copper strikes continue, copper supply concerns have increased, although the impact is limited
for now.
At present, the downstream is mostly bargain-hunting, demand performance is flat, domestic inventories maintain a downward trend, and copper prices have fallen into adjustment
.
Technically, the mainstream short position reduction of the Shanghai copper 2107 contract is large, and the triangular convergence trend is expected to adjust short-term
shocks.
