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On Monday, Shanghai copper opened low and went low, the main monthly 1811 contract opened at 48360 yuan / ton, the highest intraday 48530 yuan / ton, the lowest 47820 yuan / ton, settled 48140 yuan / ton, closed 47930 yuan / ton, down 670 yuan, down 1.
38%.
The trading volume of the main 1811 contract of Shanghai copper increased by 21590 lots 222616 lots, and the position increased by 3746 lots to 193732 lots
.
In the external market, Apanlun copper rushed back down, at 15:35 Beijing time, the latest quotation of London copper was 5895 US dollars / ton, down 10 US dollars, or 0.
18%.
In the market, the domestic spot copper price fell, the Yangtze River spot 1# copper price was 48300 yuan / ton, down 510 yuan, premium 200 - 240 liter; Shanghai spot 1# copper price was 48280 yuan / ton, down 480 yuan / ton
.
In the spot market, the market is mostly quoted with reference to October, the expansion of the monthly basis has supported the price at a high level, the enthusiasm of traders to receive goods has been suppressed, downstream enterprises purchase on demand, and the overall transaction performance is not smooth
.
This year's copper rod and copper pipe enterprise operating rate is higher than the same period last year, superimposed on scrap copper import policy restrictions, scrap copper import volume contracted, boost scrap copper prices, fine scrap price spread lower, scrap copper price advantage weakened, scrap copper market showed a weak supply and demand phenomenon, boost refined copper demand
.
According to statistics, the operating rate of scrap copper rod enterprises in July and August was less than 40%, far lower than the same period last year, and the operating rate of scrap copper rod in September is expected to be 43.
86%, up 5.
32 percentage points
from the previous month.
As of September 14, the total inventory of the three major exchanges totaled 543,000 tons, the total inventory of the bonded zone was 413,000 tons, and the inventory of the three major exchanges and bonded areas decreased by 224,300 tons
compared with the same period last year.
At present, the global copper market is in a weak balance, copper market supply and demand no obvious contradiction, copper prices are more affected by macro factors, the current Sino-US trade situation is not clear, do not rule out the possibility of copper prices continue to be under pressure, in the long run, this year copper market on supply and demand reflection blunt, it is expected that by the end of the year copper prices will be repaired, the center of gravity up, but the stage fluctuations increase
.
