-
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 Friday, the Shanghai copper 1612 contract opened at 38090 yuan / ton, driven by the surrounding market, the bears closed their positions one after another, the bulls actively bought, copper prices rose to 38340 yuan / ton, the upper test of the upper rail pressure level of the Bollinger Road, the bulls closed at a high level, the center of gravity of copper prices fell back to 38240 yuan / ton around consolidation, closing the big white line at 38270 yuan / ton, up 450 yuan / ton, up 1.
19%.
Shanghai copper continued to rise during the day, the depreciation of the yuan fell below 6.
79, the bulls completely dominated the market, the current London copper has broken through the 4800 US dollars / ton mark, or drive Shanghai copper to break through the upper rail
of Bollinger Road.
In terms of the external market, London copper opened at 4785.
5 US dollars / ton, the Asian session London copper shun daily average short-term low to 4775 US dollars / ton, with the domestic commodity coking coal, hot coil and other general rise, the market rekindled the enthusiasm for long, London copper slowly upward gradually away from the daily average, into the European session around 4800 US dollars / ton briefly stepped back to the daily average, the LME announced that copper stocks fell by 5050 US dollars / ton, the proportion of written off warehouse receipts was as high as 40.
88%, more into the short flat, copper prices were shocked straight up, The high was $4816/ton, but it fell back under the pressure of the 60-week line, and as of 17:00, London copper was trading at $4802.
5/ton
.
On the macro front, China's recent macroeconomic data continues to improve, investors are optimistic that China's economy has bottomed out and stabilized, and the market expects China's demand for non-ferrous metals such as copper and aluminum to strengthen.
In such a good bullish atmosphere, copper and aluminum continued to strengthen
after a short trim.
In terms of the market, Shanghai copper continued to rebound strongly, the market mentality has been differentiated, holders of high shipments, the supply of copper has increased, the current copper premium has further narrowed, especially good copper more actively reduce the premium to seek transactions, wet copper supply is limited, quotations are relatively firm, a small number of speculators in the morning market price to absorb the source, but downstream in the copper price rebound when the market rarely enters the market, the overall trading is general
。 In the afternoon period, Shanghai copper high consolidation, trading volume further shrinkage, holders and then drop the premium, flat water copper premium 60 yuan / ton -90 yuan / ton, most of the good copper transaction at about 100 yuan / ton, the transaction price slightly dropped to 38300 yuan / ton -38400 yuan / ton, some traders with financial strength and low inventory to absorb cost-effective good copper, the transaction showed the characteristics
of the end of the month.
At present, near the delivery date of November 15, the position of Shanghai copper near-month contract is still as high as 60,000 lots, equivalent to 150,000 tons of copper long position, and the current exchange of 110,000 tons of low inventory can not effectively match, if the Shanghai copper front-month contract position continues to be at a high level, the trend of Shanghai copper will continue to rise further, short-term Shanghai copper main contract 1612 is expected to test 39,000 yuan / ton
.
