-
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
Shanghai copper resumed night trading
after the holiday.
During the week, Shanghai copper as a whole showed an upward trend, showing a stepwise upward trend
.
On Friday, Shanghai copper, led by no London copper, walked out of a more obvious rebound trend, reaching a maximum of 43,610 yuan / ton and closing at 43,510 yuan / ton, a weekly increase of 1.
33%.
At present, Shanghai copper closed in the sun, the bulls' power has gradually strengthened, has stood firm in the 60-day moving average, and there is still room
for growth from a technical point of view.
This week, due to the British bank holiday, the LME has only 4 trading days, and London copper opened low and went high, performing four consecutive sunshine
.
China's above-than-expected growth in trade exports for April during the week also proved the resilience of the world's second-largest economy in the context of the global pandemic, boosting risk appetite among global investors
.
OPEC+ production reduction plan began in May, coupled with the decline in the growth rate of US crude oil inventories, the market's expectation of easing the contradiction between oil supply and demand has heated up, and the rebound of international oil prices has also given copper prices upward momentum
.
The sustained recovery of China's economy has also effectively boosted the market's confidence
in the recovery of copper demand.
Weekly Nellun copper rose steadily along the 20-day moving average, breaking through the $5200 / ton mark, the upward momentum is still strong, the highest rush to 5295 US dollars / ton, now closed at 5280.
5 US dollars / ton, a weekly increase of 3.
42%.
China's April trade data released, exports unexpectedly sharply increased, more than expected import and export data strengthened the market's optimistic expectations for China's economic continued improvement, the General Administration of Customs announced that China's April unwrought copper and copper imports and copper ore and concentrate imports, both month-on-month and year-on-year growth
.
As the world's largest copper producer and consumer, the news effectively alleviated the market's concerns
about copper demand sluggish due to the impact of the epidemic.
Countries have announced plans to lift epidemic restrictions, boosting global investors' risk appetite and boosting copper prices
.
After returning from May Day, Shanghai copper jumped lower at 42,320 yuan / ton due to concerns that the escalation of Sino-US tensions may trigger another Sino-US trade war, but the resumption of the economy in many European and American countries boosted market risk appetite, and the rise of Shanghai copper made up for the gap and broke through the 43,000 yuan / ton mark
.
In the spot market, the water rose day by day after the holiday
.
This week's Shanghai copper showed a stepwise upward trend, the post-holiday opening quotation premium slightly higher than before the holiday, but with the continuous rebound of the plate, the willingness of holders to exchange cash at a high level is becoming more and more strengthened, in order to seek shipment transactions relaxed the price attitude has room to suppress prices, buyers are cautious wait-and-see mood gradually increased, some traders once replenished their own low inventory after the holiday, more favored low-price sources, downstream enterprises more to maintain rigid demand
.
The actual transaction was lowered from 130~160 yuan / ton at the opening of the market on Wednesday to 100~140 yuan / ton at the weekend, and large traders led the market trading
during the week.
