-
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 Monday, the main 1705 contract of Shanghai copper opened at 48080 yuan / ton, after the opening of Shanghai copper in the long position increase pull, rushed up to 48280 yuan / ton, due to Escondida copper mine capital to accept the union negotiation proposal, short positions increased sharply, superimposed long position reduction, copper price straight down, probe as low as 47840 yuan / ton, and then short short-term operation, copper price around 47940 yuan / ton a line of low consolidation, to 47980 yuan / ton to close at the doji, up 40 yuan / ton
。 Shanghai copper is under pressure on the middle rail of Bollinger Road during the day, and there is strong pressure near the middle rail, and it is difficult to break through
in the short term under the stimulation of no strong news.
In terms of the external market, London copper opened at 5918.
5 US dollars / ton, after the opening of London copper short-term rose to 5935.
5 US dollars / ton, the upper lead pierced the middle rail of Bollinger Road, the upper pressure is obvious, London copper continued to rise blocked, and then due to Escondida copper mine investors accepted the negotiation proposal of the union, copper prices fell sharply to 5883 US dollars / ton, and then copper prices stopped falling under the support of the 5-day and 20-day moving averages, around 5896 US dollars / ton line repeated consolidation tests, into the European session, as the dollar declined, Copper prices rebounded, touching $5925 at the middle track of Bollinger Road continued to come under pressure, turned around and fell, as of 17:23, London copper was reported at $5899 / ton
.
Intraday copper range volatility, there is pressure on the middle band of Bollinger Road, there is moving average support below, copper mine negotiations are deadlocked, there is no certainty news in the short term, pay attention to the Chicago Fed National Activity Index
for February.
After six consecutive sunshine, Luntong accumulated too many profit orders, and then rushed to the performance obstacle
.
Copper prices are expected to remain in a dilemma and are stuck in a range of consolidation
.
In terms of macro, data show that in February, the price increase of new houses in first- and second-tier cities rebounded, third-tier cities continued to maintain a high growth rate, and second-hand housing prices in first-tier cities increased significantly
.
In the face of the high temperature of the property market, 16 have started or upgraded the purchase restriction of the property market in the past 20 days, and the real estate regulation and control policy has been upgraded
again.
In terms of the market, Shanghai copper narrow fluctuations, now copper discount slightly narrowed, morning copper rose slightly, the next month price difference maintained at about 250 yuan / ton, a small number of speculators buy cash selling period, absorb low-priced goods, into the second trading session, copper falls, turn up into fall, market value preservation outflow, especially flat water copper supply, wet copper supply is decreasing, and flat water copper price difference further narrowed, holders want to narrow spot discount, but the overall actual transaction is relatively limited, so that the current copper discount range narrows limited, supply and demand slightly deadlocked
。 In the afternoon session, the low level of the market consolidated, the speculators inquiry atmosphere weakened, the holders maintained a strong price attitude, the premium quotation was deadlocked, flat water copper reported a discount of 230 yuan / ton - discount 200 yuan / ton, a premium copper discount of 180 yuan / ton - discount 130 yuan / ton, the transaction price was 47470 yuan / ton - 47620 yuan / ton
.
In terms of industry, Kazakhstan's refined copper production in January-February this year decreased by 3.
3% from the same period last year to 65,000 tons, of which refined copper production in February will be 0.
4% less than 33,000 tons
year-on-year.
In addition, Cochilco released data showing that Anglo American Resources' Sur division copper production in January fell 25% year-on-year to 25,000 tons, Chile's national copper production fell 5.
8% year-on-year to 141,000 tons, BHP's Escondida copper production fell 17% year-on-year to 77,000 tons, and Chile's January copper production fell 2.
9% year-on-year to 446,000 tons
.
Overall, considering that the supply and demand side of the copper market has indeed improved, and the traditional consumption season is coming, it is still optimistic about the performance of copper prices in the peak season, and it is recommended to buy
on the dip in trading.
US new home sales data will be released on Thursday, Eurozone PMI data for March will be released on Friday, and a number of Fed officials will speak, which is worth watching
.
