-
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 Wednesday, the main Shanghai copper futures contract rose 0.
48% to around 73,700 yuan a tonne, with a spot premium of 170 yuan per tonne
.
Due to the epidemic in the Yangtze River Delta region, copper processing enterprises have been affected to a certain extent, short-term demand for copper has decreased, and spot prices have risen or declined
.
The current market for copper is short and long
.
On the macro front, at 2 a.
m.
Beijing time on Thursday, the minutes of the Fed's FOMC meeting showed that officials discussed the roadmap
for balance sheet reduction at the March meeting.
Most officials at the meeting believed that a reduction of up to $95 billion in assets per month could be appropriate and could require one or more 50 basis point
rate hikes.
Overall, the minutes were more hawkish than expected, with the dollar and Treasury yields moving higher together and copper prices slightly under pressure
.
Fundamentally, copper concentrate TC continued to rise by $3.
4/ton, and has now reached $77.
83/ton, indicating that the mine end itself is still on the generous side, while the smelting end is relatively tight
due to energy tightness.
Short-term TC may rise further
.
In terms of refined copper, due to the current impact of the epidemic, especially in the Yangtze River Delta region, logistics is seriously blocked, so the current impact on the supply side may be relatively neutral
.
In terms of demand, because downstream enterprises in the surrounding areas of the Shanghai market were affected by the epidemic, consumer demand was sluggish, and market transactions were mainly
based on the circulation of goods between traders.
In the second half of the week, traders consider the cost
of inventory in the Shanghai area in the coming days.
And most producers do not have a very high recognition of the current copper price, so the current consumption is generally very light
.
In terms of stocks, LME stocks were at 94,900 tonnes, down 0.
1 million tonnes from the previous session, and SHFE fell 02,100 tonnes to 39,500 tonnes
.
On the whole, currently affected by the epidemic, the pattern of weak supply and demand is obvious
.
However, in the current high premium quotation caused by logistics, and the macro aspect, the inflation level is still relatively high, copper prices may still maintain a volatile upward pattern
.
