Today's cash market
Today, Shanghai Copper opened at 52290 yuan / ton, fluctuated all the way down after the opening, the center of gravity gradually moved below the daily average line, and adjusted around 52070 yuan / ton shock, closing at 52040 yuan / ton at noon. Opening in the afternoon, it fluctuated all the way down, falling below 52000 yuan / ton, and maintained the downward trend, and finally closed at 51700 yuan / ton, down 190 yuan / ton, down 0.37%. On the spot side, inventory in the Shanghai area continued to decline during the week, and holders insisted on selling push-up water, but the lack of good copper hindered the push space of leveling copper, and the rising water may fluctuate around 100 yuan before delivery, showing a dilemma between upper and lower. The market is still in the hands of the seller.
Today, Shanghai copper gave up yesterday's gains and closed negative, KDJ opening expansion, under the support of the 20-day moving average. In the evening, we will pay attention to the number of people in the United States who have applied for unemployment benefits in the week up to September 5 to test whether Shanghai Copper can hold the support of 51500 yuan on the Brin middle rail line.
SMM Shanghai Copper spot Market KuaiBao: the market activity declined during the conference and the price offered by the holder remained strong.
"Sept. 10 SMM Guangdong Copper spot Market KuaiBao: transaction is still quiet and only sporadic transactions
SMM North China Copper spot Market KuaiBao: the price gap between North China and East China widens and smelters continue to ship goods to East China.
"Sept. 10 SMM foreign mountain copper spot market KuaiBao: before the festival demand is weak and the foreign trade market as a whole is deserted
LME copper inventory increases by 2550 tons Rotterdam warehouse has the biggest increase
Important news of copper city
Jiang Yan, chairman of the Shanghai Futures Exchange, said that it will persist in opening wider to the outside world and pilot copper futures. It plans to use "double contracts" to serve "double cycles". On the basis of keeping the existing copper futures unchanged, the Shanghai International Energy Trading Center will launch a net international copper futures contract that is directly open to overseas traders this year. We will increase the supply of high-quality products and accelerate the listing of alumina futures.
[copper prices show a pattern of weak inside and strong outside] from the perspective of the proportion of global copper consumption, Chinese demand is the key to determine the medium-term trend of copper prices. On the other hand, the marginal tightening of domestic liquidity, the strengthening of real estate regulation, the rebound of infrastructure investment and the destocking of the manufacturing industry all mean that domestic demand is flat and copper prices are weak inside and strong outside. In the future, there is a high probability that domestic copper will lead the decline of international copper prices. "View details
[the word "strict" is at the head of escorting the resumption of work at the Mirado Copper Mine] on August 26, local time in Ecuador, the ball mill at the Mirado Copper Mine roared again, and the mine, which had been suspended for more than five months due to the epidemic, fully resumed production. On the same day, the ore handling capacity of the concentrator reached 23891 tons. The copper concentrate produced by the Milado Copper Mine has also been transported back to Tongling Nonferrous smelter for processing. After reaching the standard, it will bring 96000 tons of copper metal to Tongling Nonferrous Metal every year. "View details
[short-term wide shocks in copper prices may be weak in the peak season of domestic demand] the main points of the reversal in copper prices are the marginal withdrawal of stimulus policies and the lack of stamina for the recovery of global demand, which is not expected to be reflected during the year. In terms of price, the author believes that the high point of the second round of rebound in copper prices will be less than 7000 US dollars / ton, and short-term copper prices may continue to show a trend of wide volatility. From a strategic point of view, it is recommended that in the early stage, more than 52000 yuan / ton above every high profit, waiting for macro and fundamental signals for the next step of guidance. "View details
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