Home / Metal News / Copper / [summary of important news of copper market] Copper closed down in Shanghai * spot rising water center is expected to move up.
[summary of important news of copper market] Copper closed down in Shanghai * spot rising water center is expected to move up.
Sep 2,2020 21:04CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Today's cash market

Today, the Shanghai Copper 10 contract opened at 52060 yuan / ton, with the lowest point of 51700 yuan / ton in the shock downside, giving up all the gains in the previous two days. At this time, the bears left the market, and the copper price returned above the 52000 yuan / ton mark, closing at 52010 yuan / ton at noon. In the afternoon, the center of gravity of copper prices rose slightly to 52100 yuan / ton, and adjusted horizontally around that position, and finally closed at 52070 yuan / ton, down 380 yuan / ton, down 0.72%. On the spot side, due to poor downstream procurement domestic refinery inventory pressure gradually appeared, the outflow of goods increased, domestic inventory still showed a slow growth trend. At the beginning of the month, traders have plenty of money, and their performance is still relatively positive. It is expected that the center of gravity of the rising water in the market is still expected to move slightly upward.

Today, copper in Shanghai is overcast, but there are still many moving average lines underneath, and the technical point of view is that there is limited room for copper prices to fall. The market focused on the US ADP payrolls in August announced in the evening, waiting to see its impact on the dollar index, supporting Shanghai copper to rise again.

"Sept. 2 SMM Shanghai copper spot market KuaiBao: copper prices have plummeted, buying prices have improved, and the discount has risen slightly.

SMM Guangdong Copper spot Market KuaiBao: inventory increases sharply again today, the rise weakens.

SMM North China Copper spot Market KuaiBao: the holder wants to raise the price for shipment, but the downstream does not accept it.

"Sept. 2 SMM Shanghai copper spot market KuaiBao: copper prices have plummeted, buying prices have improved, and the discount has risen slightly.

LME copper inventory reduced by 3275 tons the largest drop in Rotterdam warehouse

Important news of copper city

[Tongling Nonferrous intends to spin off its holding subsidiary copper crown copper foil to gem listing] Tongling Nonferrous disclosed on the evening of September 1 that the company intends to spin off its holding subsidiary copper crown copper foil to Shenzhen Stock Exchange to be listed on the growth Enterprise Market. After the completion of this spin-off, Tongling non-ferrous ownership structure will not change, and still have a controlling stake in copper crown copper foil. After this spin-off and listing, the company and other enterprises controlled by the company (except copper crown copper foil) will continue to focus on the development of business in addition to the R & D, manufacturing and sales of high-precision electronic copper foil, highlight the company's main business advantages, and further enhance the independence of the company. "View details

[tight supply and demand does not change consumption in peak season is expected to increase copper price in September] SMM combined with the latest market in the upper and lower reaches of the industrial chain, at present, downstream consumption has not yet come out of the off-season market, the domestic and foreign trade markets are both weak, domestic social inventory is still rising, and there is no significant disturbance information on the supply side, but the optimistic tone of continuous recovery in overseas markets remains unchanged, and LME continues to go to the warehouse, bringing strong support. The copper price fluctuates strongly in September. "View details

[special electrician's first-half net profit decreased by 12.2% compared with the same period last year] Special Electric recently released a semi-annual report for 2020, saying that the company's operating income in the first half of 2020 was 17966412784.63 yuan, an increase of 5.36% over the same period last year; the net profit belonging to shareholders of listed companies was 920044646.76 yuan, down 12.2% from the same period last year. At the end of the reporting period, the net assets belonging to the shareholders of the listed company were 35329884000.34 yuan, an increase of 1.28% over the end of the previous year, and the total assets of the company were 105410662809.25 yuan, an increase of 3.12% over the end of the previous year. "View details

Copper production in the world's second-largest copper producer fell 2.2 per cent in July from a year earlier. Copper mining in Peru, the world's second-largest producer, has almost fully recovered from the impact of the epidemic, a government official said on Tuesday. Peru's copper production in July fell 2.2% from a year earlier to 198796 tons, Deputy Minister of Energy and Mines Jaime Galvez said in a report. "View details

Click to understand and sign up for the 2020 China Automotive New Materials Application Summit Forum.

Please fill in your personal information on the last page and the meeting staff will contact you later!

Scan the QR code and apply to join the SMM Automotive Industry Exchange Group.

Reviews
futures
spot
Yangshan copper

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news