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On July 13, the trend of Shanghai copper was weak, the main monthly 2208 contract opened at 56960 yuan / ton, the daily close at 56030 yuan / ton, down 1910 yuan / ton, down 3.
30%, the macro atmosphere continued to be pessimistic, overnight crude oil prices fell heavily and the dollar rose pleasantly, most metals closed down, Shanghai copper without exception continued to break down
.
In terms of spot, the average price of spot 1# copper in the Yangtze River on July 13 was 56660-56700 yuan / ton, down 1970 yuan / ton; Liter 260-liter 300, closing up 40 yuan / ton
.
In the spot market, buying activity rebounded from yesterday, downstream on-demand procurement, receiving sentiment was also good, and the overall trading volume increased
.
In terms of inventories, as of July 13, London Metal Exchange (LME) copper stocks decreased by 800 tons, or 0.
61%, to 130975 tons; As of July 13, the previous copper futures warehouse receipt was 16,702 tons, an increase of 1,118 tons
from the previous day.
On the supply side, there are many disturbances at the overseas mine end, and the domestic raw material supply side is relatively abundant, although some refineries are overhauled, but there are still refineries put into operation and resumed production, and the increase is obvious, and there may be accumulation expectations
in the future.
On the demand side, China's demand is still weak, with the copper foil operating rate falling in July, and the negative feedback on terminal demand intensifying
.
In addition to the direction of automobiles, other fields have entered the seasonal consumption off-season, and consumption is becoming colder in the off-season.
Comprehensive analysis, Shanghai copper continued to be weak, falling 1910 yuan, down 3.
3%.
The macro atmosphere remained pessimistic, with the dollar index continuing to reach new highs overnight, while oil prices tumbled and copper prices came under pressure
.
The market waited for the US inflation data to remain cautious in the evening, and Shanghai copper broke down
.
Domestic supply and production have increased in an orderly manner, and the inventory in the previous period has increased unabated, coupled with consumption in the off-season, it may be difficult to improve, while the real estate depression dragged down the outlook for metal demand, and consumption stimulated by favorable policies did not see, under the background of multiple bearishness, Shanghai copper once moved down to the
56000 line.
