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On Friday, Shanghai copper was strongly volatile, the main monthly 181 contract opened at 47720 yuan / ton, the highest intraday 47960 yuan / ton, the lowest 47400 yuan / ton, settled 47680 yuan / ton, closed 47560 yuan / ton, up 60 yuan, or 0.
13%.
The trading volume of the main 1811 contract of Shanghai copper increased by 6880 lots throughout the day 139198, and the position increased by 3744 lots to 198092
.
In the spot market, Guangdong spot 1# copper price was reported at 48030 yuan / ton, up 20 yuan; Yangtze River spot 1# copper price reported 48060 yuan / ton, up 30 yuan, premium 110 - premium 150; Shanghai spot 1# copper price was 47990 yuan / ton, up 60 yuan / ton
.
Holders actively cut prices to dump goods, the premium fell again, the current market bears are still dominant, downstream manufacturers continue to wait and see, the overall transaction performance is average
.
In terms of news, as the US tariffs on China $200 billion of goods are approaching, market worries have revived, while the results of NAFTA negotiations are still pending, emerging market turmoil has intensified, and its own risk aversion may be difficult to cool down in the short term, copper prices may continue to come under pressure
.
Industry:
1.
Copper stocks in the previous period decreased by 1,950 tons
compared with last week.
2.
Lima, September 6 news, Peru's minister of energy and mining proposed on Thursday to adjust the tax incentives provided to mining companies to a permanent policy, thereby reducing investment uncertainty
in the world's second-largest copper-producing country.
For nearly two decades, Peruvian mining companies have enjoyed an 18% VAT refund
.
But as the due date approaches, the tax refund policy faces criticism, and opposition lawmakers have proposed ending the policy
this year.
According to the tax department, in 2016 and 2017, the Peruvian government rebated about $3.
625 billion
in taxes to mining companies.
Shanghai copper showed a trend of rushing higher and falling during the day, and the main contract closed at 47680 points, up 0.
17%.
On the plate, Shanghai copper is in a rebound after falling below a new low in the year, but due to the macro bearish has not been repaired and the domestic manufacturing data in August caused by demand concerns, the rebound range is limited, the upper pressure level is 48,000 points, and the support is at 47,000 points
.
It is expected to fluctuate widely
.
