-
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 Monday, copper prices opened low and rebounded, and the main 2010 contract of Shanghai copper was as high as 51,560 yuan / ton, the lowest at 51,020 yuan / ton, and the closing price was 51,540 yuan / ton, down 0.
50% from the closing price of the previous trading day; In the external market, LME copper rebounded at a low level, and as of 15:00 Beijing time, the three-month London copper was reported at $6551.
5 / ton, up 0.
95%
per day.
Market focus: (1) Eurozone preliminary manufacturing PMI for August was 51.
7, lower than the expected 52.
9 and the previous value of 51.
8; the preliminary service PMI for August was 50.
1, lower than the expected 54.
7 and the previous value of 54.
5
.
(2) The Congo, Africa's largest copper producer, exempted from the copper export ban, and the country produced 765,000 tons of copper concentrate in the first half of this year, an increase of 13.
4%
year-on-year.
Spot analysis: On August 24, spot 1# electrolytic copper was quoted at 51260-51360 yuan / ton, with an average price of 51310 yuan / ton, a daily decline of 760 yuan / ton
.
Warehouse receipt inventory: the total number of Shanghai copper warehouse receipts on Monday was 57,333 tons, a daily decrease of 1,800 tons; On 21 August, LME copper stocks were 103475 tonnes, down 950 tonnes
per day.
As of the week ended August 21, Shanghai copper stocks in the previous period reported 172266 tons, a weekly increase of 215 tons
.
Main positions: the top 20 long positions of Shanghai copper main 2010 contracts were 79551 lots, an increase of 6770 lots per day, 72773 short positions, a daily increase of 8514 lots, a net long position of 6778 lots, a daily decrease of 1744 lots, an increase of long and short, and a net long decrease
.
Market research and judgment: Shanghai copper 2010 opened low and rebounded
on August 24.
The Eurozone's August manufacturing PMI data for August was less than expected, as well as the US stimulus impasse and pandemic fears, which led to a sharp rebound in the US dollar index; In addition, the current market is in the off-season, and the discount of scrap copper rods to copper prices has expanded, indicating that downstream demand performance is weak, and there is still resistance
above copper prices.
South American copper mine production and supply gradually recovered, Congo also exempted copper export ban, copper mine supply showed a recovery trend, but short-term copper processing fee TC low operation, crude copper arrival volume has also declined, raw material supply still tight; Coupled with the approach, the market's optimism about the improvement of demand has increased; And the stock of London copper has deteriorated significantly, which has supported copper prices
.
Technically, the mainstream short positions of the Shanghai Copper 2010 contract increased significantly, focusing on the support of the 51000 position, and it is expected that the short-term shock adjustment
.
