-
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 main 2109 contract of Shanghai copper showed a strong trend, with a maximum of 72,740 yuan / ton, a minimum of 70,990 yuan / ton, and a closing price of 71,770 yuan / ton, up 1.
74% from the previous trading day's closing price; LME copper fluctuated to the downside, as of 15:00 Beijing time, the three-month London copper was reported at 9776 US dollars / ton, down 0.
81%
on the day.
Market focus: (1) The total number of new home sales in the United States recorded an annualized 676,000 units in June, falling for the third consecutive month and hitting a new low
since April last year.
(2) Mysteel: On July 26, the spot inventory of electrolytic copper in the Chinese market was 144,300 tons, down 24,700 tons from the 19th and 11,900 tons
from the 22nd.
(3) Community protesters in search of more benefits from the exploitation of natural resources imposed a four-day road blockade in Peru in search of more benefits from the exploitation of natural resources, which began on July 23 by residents of 3 communities in the province of Chumbivilcas, Cusco, Peru's Andean region
, the Ministry of Energy and Mines said.
Road blockades by community protesters disrupted normal production operations
at MMG's Las Bambas copper mine.
Spot analysis, spot 1# electrolytic copper quotation 72530-72830 yuan / ton, the average price of 72665 yuan / ton, daily increase of 1440 yuan / ton
.
Merchants continue to adjust prices and shipments, downstream mining is still light, trading enthusiasm is under pressure, and the actual transaction is average
.
Warehouse receipt inventory: the total number of Shanghai copper warehouse receipts in Shanghai was 49,365 tons, a daily decrease of 799 tons, and a decrease of 30 consecutive days; LME copper stocks were 225225 t, flat
from the previous session.
Main positions: the top 20 long positions of Shanghai copper main 2109 contract 77152, +3300, short positions 85289, +6870, net short positions -8137, +3570, long and short positions increased
.
Market analysis: The annualized total number of new home sales in the United States after the June quarterly adjustment unexpectedly declined, indicating that consumer demand for new homes has further weakened
under the condition of inflation.
The recent global epidemic rebound, the number of new confirmed cases continues to increase, the market has eased concerns about the Fed's tightening liquidity, this week focused on Powell's speech at the Fed interest rate meeting, the overall market expectations are slightly dovish
.
Fundamentals, the second batch of domestic reserves landed, the number is still limited, lower than market expectations
.
Upstream domestic copper mine inventories continued to grow, concentrate processing fees rose back to $50, copper mine tensions improved, and holders offered high discounts
.
Downstream demand gradually picked up, the social treasury continued to decline, and exchange inventories fell to a historical low, which strongly supported copper prices
.
In the short term, the trend of Shanghai copper still has room to rise, but do not blindly chase higher
.
