-
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
Today's Shanghai copper main contract 1705 fell under pressure, closing down to 47740 yuan / ton, down 0.
87% on the day, but still maintained the large increase recorded this week (weekly increase of 2.
44%), up more than 3.
47%
from the low of 45970 yuan / ton in this round of correction.
At present, the main force of Shanghai copper has returned to the interweaving of moving averages, indicating that the upper rebound resistance is large
.
In terms of term structure, the copper market maintained a positive arrangement of near low and far high, and the positive spread between the Shanghai copper 1704 contract and the 1705 contract narrowed to 190 yuan / ton, indicating that the forward contract has a strong
willingness to rebound.
External trend: Asian market London copper oscillation slightly declined, the operating range is 5912-5863 US dollars / ton, of which 3 months London copper fell 0.
58% to 5875 US dollars / ton, the current London copper is still close to the level
of March 3 this year.
In terms of positions, on March 15, the position of London copper was 330,000 lots, a slight increase of 316 lots per day, and the bottom of the position increase in the past week rebounded, indicating that the bulls actively entered
the dip.
Macro: The U.
S.
dollar index extended its decline overnight, rebounding weakly this morning, trading around 100.
28, as the market continued to digest the impact
of the Fed's rate hike boots.
In addition, US housing starts rose 3.
0% m/m to 1.
288 million units in February, below expectations of 1.
26 million
.
In terms of industry information, Amman Mining will invest US$9.
2 billion to expand copper mining capacity, and the copper smelter is expected to start construction this year and be completed
by 2021.
Market: On March 17, Shanghai electrolytic copper spot traded at a discount of 250 yuan / ton - 130 yuan / ton for the monthly contract, the trading price of flat water copper was 47460-47560 yuan / ton, and the trading price of premium copper was 47500-47640 yuan / ton
.
Shanghai copper flat plate sorting, now copper discount slightly narrowed, some holders of inventory replenishment demand, into the market to absorb part of the low-price sources, the plate maintained a strong trend, value preservation lack of operating space, speculators enthusiasm decreased, market wet copper sources gradually reduced, and flat water copper price difference significantly narrowed, downstream on-demand delivery, transaction atmosphere is general
.
The Shanghai copper 1705 contract fell under pressure to 47,740 yuan / ton during the day, ignoring the pressure on the US dollar index, but worried that the Chinese government will increase the regulation
of the housing market.
At present, copper prices are back in the interweaving of moving averages, and long and short are still in a glue
.
In operation, it is recommended that the Shanghai copper 1705 contract can be backed above 47200 yuan to bargain price, the entry reference is around 47500 yuan, and the target is 48200 yuan / ton
.
