-
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
This week's Shanghai copper main 1604 contract first fell and then rose, Tuesday day down to the lowest point, then stabilized and rebounded, maintained unilateral upward, Thursday evening momentum strengthened, Friday once broke through the 38,000 yuan mark, the highest point to 38,010 yuan, and finally closed at 37,950 yuan, up 2,060 yuan, or 5.
74%.
Externally: this week's LME March copper unilateral shock rise, Tuesday bottomed at 4636 yuan after the shock higher, the second half of the week to maintain a unilateral upward trend, Friday midday gains expanded, up to the highest point of the week of $4933, the domestic trading session closed at $4929.
5, up $234.
5, or 5.
00%.
Macro: On March 1, the People's Bank of China announced a 50 basis point RRR cut, which helped the stock market recover
.
Although China's manufacturing PMI hit a new low in February and remained below the boom-dry line, copper prices rose
strongly due to market expectations of peak season consumption.
Market: This week's import ratio has declined, and the amount of imported copper has decreased, but the market supply is still dominated by imported inventories from previous years, traders are actively shipping, and smelters are sending few
shipments.
In the first half of the week, with the decline in copper prices, the premium was low, and downstream manufacturers, especially large manufacturers, actively purchased, mainly on demand, and had no intention
of preparing warehouses.
After copper prices rose, downstream companies remained on the sidelines, and a small amount of on-demand purchases
.
In March, the peak season is gradually coming, downstream enterprises have started work, the market generally for the peak season copper consumption expectations are still heating up, it is expected that there is a short-term pullback possible, copper prices may be as high as 40,000
.
In the long run, due to the pressure of supply and demand, this upward trend may not continue for a long time, and if consumption expectations are disappointed later, the bears' power will be greatly strengthened
.
