-
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 Tuesday, the LME copper rushed back to the high, as of 15:00 Beijing time, the three-month London copper was reported at $6222.
5 / ton, up 0.
70%
on a daily basis.
The main 2002 contract of Shanghai copper soared sharply, with the highest 49640 yuan / ton and the lowest 48970 yuan / ton within the day, and the closing price of 49590 yuan / ton, up 1.
10% from the closing price of the previous trading day; The trading volume was 200,800 lots, an increase of 71,982 lots per day, and the position was 281,900 lots, an increase of 15,640 lots
per day.
The basis narrowed to -690 yuan/ton; The price difference of Shanghai copper in 2002-2003 widened to -100 yuan / ton
.
Market focus: (1) US durable goods orders fell 2.
0% m/m in November, the lowest since May, expected to increase by 1.
5%, and increased by 0.
5%
in the previous month.
(2) China has issued the first batch of scrap metal import quotas in 2020, of which the approved import volume of scrap copper scrap is 270885 tons
.
Spot analysis: On December 24, the spot 1# electrolytic copper quotation was 48850-48950 yuan / ton, the average price was 48900 yuan / ton, a daily increase of 100 yuan / ton
.
The morning market continued the previous day's quotation, traders are more willing to cash out, and there are few responders to receive goods, so the market took the initiative to lower the previous day's level, the copper high volatility, the downstream also gradually entered the year-end settlement, the overall activity of the market declined, the end of the year will be the overall market trading gradually weakened
.
Warehouse receipt inventory: Shanghai copper warehouse receipts totaled 54,716 tons on Tuesday, a daily decrease of 703 tons, a decline of 5 consecutive days; On December 23, LME copper stocks were 151,100 tons, a daily decrease of 3,350 tons, and a decline of 22 consecutive days
.
Main positions: the top 20 long positions of Shanghai copper main 2002 contract were 91969 lots, an increase of 5772 lots per day, short positions were 101855 lots, an increase of 4100 lots per day, net short positions were 9886 lots, a daily decrease of 1672 lots, long and short positions increased, and net space decreased
.
Market research and judgment: On December 24, the main force of Shanghai copper in 2002 soared
.
The dollar rally has slowed down, while the progress of Sino-US trade is optimistic, and the upstream copper TC/RC price decline, China's scrap copper imports are still expected to decline, raw material supply is tight, superimposed on the global copper inventory continues to decline, demand has improved, copper prices performance is strong, but the global economic downward pressure is greater, the recent US economic data is significantly less than expected, while Sino-US trade is still uncertain, the market expects further details, copper prices are under pressure
。 In terms of spot, the morning market continued the previous day's quotation, traders' willingness to exchange cash increased, there were few responders, and the downstream gradually entered the year-end settlement, the overall activity of the market declined, and the overall trading of the market gradually turned weak
at the end of the year.
Technically, the main 2002 contract of Shanghai copper increased its position, and the mainstream bulls increased their positions even more, and it is expected that the short-term volatility will be strong
.
