-
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 Wednesday, the base metal trend diverged, Shanghai copper rushed back down, intraday trading at 48920-48120 yuan / ton, the end of the day closed at 48290 yuan / ton, down 0.
84% on the day, its upper rebound resistance focus on 49000 yuan / ton
.
In the external market, as of 16:00 Beijing time, the three-month London copper was reported at $6,000 / ton, down 1% on a daily basis, the first decline
in five trading days.
At present, copper prices are still running at the intersection of moving averages, and the risk of decline remains
.
In terms of spot, on August 22, Shanghai electrolytic copper spot traded 110-190 yuan / ton for the monthly contract, and the transaction price of flat water copper was 48680-48770 yuan / ton
.
The arrival of imported copper increased, the market encountered copper price rebound and high premium pattern to increase the willingness to ship for cash, the morning market quotation is at the premium of 140-190 yuan / ton, but the shipment is more, reproducing the pattern of oversupply, the rapid decline of the premium almost did not stay to flat water copper premium 110-120 yuan / ton, good copper premium 160-170 yuan / ton
.
There are many intraday dumpers, and the downstream is not eager to receive the goods, and the 1809 to 1901 contract, the contract for 5 consecutive months has almost no spread, speculators are suppressed and difficult to find the direction
of operation.
In terms of news, the Asian dollar index stopped falling and rebounded, now trading around 95.
35, because the Sino-US trade negotiations have not made good progress, but the market reported that on August 23, the United States will impose new tariffs on more than $16 billion of Chinese goods, and China will respond equally to the United States, and trade war fears have risen
.
In terms of industry, the latest monthly report of the International Copper Research Group (ICSG) shows that the global refined copper market has a supply shortage of 31,000 tons in May and 105,000 tons in April, and the shortage has narrowed significantly, of which the global refined copper production in May was 2.
02 million tons and consumption was 2.
05 million tons
.
At the same time, the global copper market had an oversupply of 21,000 tons from January to May this year, compared with a shortage of 66,000 tons in the same period last year, and the shortage has also narrowed
.
Overall, intraday copper rushed back down, as the US dollar index stopped falling and stabilized, and Sino-US trade concerns rose, while the short-term copper market technical pattern was bearish, and the downward trend continued
.
Operationally, it is recommended that the Shanghai copper 1810 contract can be backed by 49,000 yuan below the sky, and the entry reference is around 48,500 yuan, and the target is 47,500 yuan / ton
.
