Home / Metal News / Copper / [summary of the important news of the copper market] Copper closed in Shanghai * traders hold up the price and the sentiment of spot price goes up and the water is difficult to decline.
[summary of the important news of the copper market] Copper closed in Shanghai * traders hold up the price and the sentiment of spot price goes up and the water is difficult to decline.
Sep 8,2020 17:27CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Today's cash market

Today, Shanghai copper opened at 52440 yuan / ton, fell slightly to an intraday low of 52320 yuan / ton after opening, then raised its center of gravity, adjusted around 52470 yuan / ton shock, and closed at 52430 yuan / ton at noon. Opening in the afternoon, the center of gravity continued to rise above the daily average and climbed the intraday high of 52690 yuan / ton, but the rising kinetic energy fell again, and finally closed at 52590 yuan / ton, up 330yuan / ton, up 0.63%. Spot aspect, Shanghai area because the copper supply of Pingshui is not abundant, the price of good wet method is raised with Pingshui, but the downstream enters the market to buy goods in general, the transaction is limited. Imports continue to suffer large losses, import arrivals have eased since last week, and the increment of domestic outflows is limited. Although domestic inventories have not been significantly removed, traders continue to have price-raising sentiment, buying goods at low prices actively, and rising and sticking water can hardly see a downward trend.

Today, the copper in Shanghai closed, and the KDJ opened upward and jumped off the multiple moving averages below. Wait for the guidance of the outer disk at night to test that Shanghai copper can maintain the upward trend.

"Sept. 8 SMM Shanghai copper spot market KuaiBao: traders buy goods at low prices and actively raise the discount slightly.

"Sept. 8 SMM North China Copper spot Market KuaiBao: consumption is weak, spot market is priceless, smelters are reissued to East China.

SMM North China Copper spot Market KuaiBao: high Copper Price suppresses weak transactions in the downstream Consumer Market

"Sept. 8 SMM foreign mountain copper spot market KuaiBao: foreign trade transactions continue to remain light

LME copper inventory decreased by 1000 tons the biggest drop in New Orleans warehouses

Important news of copper city

[Codelco escalates tensions with unions Copper miners say they will take action] tensions between Chile's national copper industry and trade unions are escalating, and unions are reported to be dissatisfied with Codelco's prevention and control measures against the epidemic and the pricing of insurance premiums. (FTC), the copper workers' union representing the unions of mining companies, said Codelco was violating the legitimate rights and interests of workers. Workers at Chile's national copper (Codelco) said on Friday that they would take action against these "job threats". "View details

[Codelco:5-July Ministro Hales mine ore processing efficiency increased significantly] according to Codelco's website, the raw ore processing capacity of its mine Ministro Hales reached 2530 tons per hour from May to July, an increase of 23 percent from the 2060 tons per hour in the first four months of this year. In the past three months, the mine has been able to process 57000 tons per day, which has reached the expected level of 2021, and the daily ore processing capacity from January to April this year is only 46000 tons. "View details

Chilean copper exports fell 11 per cent month-on-month to $2.76 billion in August, the biggest drop since January, according to trade data released by Chile's central bank on Monday.

[SMM analysis: the operating rate of the enamelled wire industry in August exceeded expectations and still increased slightly in September] according to SMM survey data, the operating rate of enamelled wire in August was 76.63%, up 1.24% from the previous month, 6.59% over the same period last year, and 1.37% higher than the expected 75.26%. Among them, the operating rate of large enterprises increased by 0.08% month-on-month to 78.32%, while that of medium-sized enterprises increased by 3.34% to 74.34%. "View details

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