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[summary of important news of copper market] Copper overcast in Shanghai period * spot rising water quality is stable and firm in the early delivery period.
Sep 9,2020 18:13CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Today's cash market

Shanghai Copper opened at 51980 yuan / ton in early trading, briefly fell about 100 yuan / ton after opening, rebounded after hitting the daily average line and maintained a concussive upward trend, closing at 52210 yuan / ton at noon. In afternoon trading, Shanghai copper explored an intraday high of 52300 yuan / ton, but as the copper price of bulls fell, near the end of the day, it slipped through the daily moving average, falling 51780 yuan / ton, and finally closed at 51830 yuan / ton, down 690 yuan / ton, or 1.31%. On the spot side, as the futures structure does not show a breaking change, it is difficult to revise the Shanghai-Lun ratio, the import loss continues at 600-700 yuan / ton, the superimposed inventory shows a downward trend, and the performance of traders is more proactive. Pingshui copper buying is sustainable in the Shanghai area, and the recent market trading is still under the guidance of traders. Shengshui will continue to be stable and firm before delivery.

Today, Shanghai copper negative, K-line entity above the 5-day, 10-day moving average suppression, the technical side of the bearish copper price. Wait for the outer disk guide at night to test whether Shanghai Copper can return to the 52000 mark.

"Sept. 9 SMM Shanghai copper spot market KuaiBao: traders buy goods at low prices and actively raise the discount slightly.

SMM Guangdong Copper spot Market KuaiBao: weak demand holders choose to deliver positions

SMM North China Copper spot Market KuaiBao: copper prices fell sharply from yesterday, but the holder failed to raise the price.

"Sept. 9 SMM foreign mountain copper spot market KuaiBao: the market is still deserted and the price of goods arriving in Hong Kong before the holiday continues to weaken.

LME copper inventory reduced by 3125 tons Trieste warehouse dropped the most

Important news of copper city

[Peruvian copper production has returned to normal] Jaime G á lvez, deputy minister in charge of mining at Peru's Ministry of Energy and Mining, said, "electricity consumption by large mining companies is a very good indicator of production. Although electricity consumption fell 4.4% in August from a year earlier, electricity consumption in Copper Mine Mountain fell by only 0.4%. It can be said that mining production has reached the level before the epidemic. " "View details

In the future, the macro outlook is neutral and slightly short, the dollar index shows signs of rebound, and the adjustment of US stocks and the fall in crude oil prices stimulate market risk aversion; as the global economy continues to recover from the impact of the epidemic, monetary policy tends to be marginally tight. It will take some time for copper supply to return to abundance, with Lunn copper inventories falling to a more than 10-year low, with some support below copper prices, while peak season demand has yet to show, focusing on the performance of domestic demand in Shuangjie and Singles Day. Therefore, the upward momentum of copper prices is insufficient and it is not appropriate to pursue higher prices. "View details

Recently, the first phase of Pulang Copper Mine of Yunnan Diqing Nonferrous Metals Co., Ltd., designed by China Nonferrous Engineering Co., Ltd. And China Enfei Engineering Technology Co., Ltd., has passed the completion acceptance organized by China Copper Co., Ltd. And Yunnan Copper (Group) Co., Ltd. "View details

Copper price V-shaped rebound these three stocks are bullish! Have you Pick?] it is reported that iPathA Series B Bloomberg Copper Subindex Total Return ETN (JJC) has risen 8.1% year-to-date, surpassing the 7.5% increase of the SPDR Seven P500. JJC has risen more than 35 per cent since its trough in March. Through Power Rating, Foxnews selects three stocks that are bullish until the end of 2021 and rates them as "strong buys". "View details

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