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[summary of the important news of the copper market] Copper closed in Shanghai * traders' pre-festival reserve demand supports rising water and holding firm.
Sep 18,2020 18:22CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Today's cash market

Today, the main force of copper in Shanghai opened at 52050 yuan / ton. after the opening, bulls entered the market to drive copper prices up to 52250 yuan / ton, but the upward momentum was limited. Copper prices adjusted around 52130 yuan / ton shock, closing at 52190 yuan / ton at noon. The center of gravity of Shanghai copper rose slightly in the afternoon, rising to a daily high of 52350 yuan / ton, and then slipping slightly to 52160 yuan / ton. After a short adjustment, copper prices rose slightly again, and finally closed at 52320 yuan / ton, up 830 yuan / ton, or 1.61%. Spot aspect, the high copper price suppresses the downstream purchase demand, but at the same time, the traders in the pre-festival reserve stock expectation is obvious, the market stalemate pattern remains the same, the quotation is basically flat than yesterday, pay attention to the situation of the reserve stock next week.

Today, the copper in Shanghai closed, and the KDJ curve crossed upward, and the bottom was still supported by the 40-day moving average. In the evening, pay attention to the preliminary consumer confidence index of the University of Michigan in September to test whether Shanghai Copper can continue to rise momentum.

"Sept. 18 SMM Shanghai copper spot market KuaiBao: high copper price suppresses market transactions and traders keep their prices up.

SMM North China Copper spot Market KuaiBao: copper prices rebounded strongly, rising water continued to weaken

SMM Guangdong Copper spot Market KuaiBao: spot discounts are favored by traders who take advantage of the opportunity to pick up goods on the bargain.

"Sept 18 SMM foreign mountain copper spot market KuaiBao: foreign trade copper market demand limited transaction performance stalemate

LME copper inventory increases by 1.5 million tons New Orleans warehouse has the biggest increase

Important news of copper city

[national mainstream copper market inventories fell 4400 tons month-on-month this week] as of Friday, SMM national mainstream copper regional market inventories totaled 338900 tons, an increase of 15000 tons compared to last week. Among them, copper stocks in Shanghai increased by 9200 tons to 220200 tons from the previous month; copper inventories in Jiangsu increased by 1800 tons to 32500 tons compared with the previous month; and copper inventories in Guangdong increased by 4000 tons to 86200 tons. "View details

[copper inventory in Shanghai bonded warehouse increased by 11500 tons this week] according to SMM research, copper inventory in Shanghai bonded area increased by 11500 tons to 276500 tons on Friday compared with last Friday, for the seventh consecutive week. Domestic consumption is difficult to pick up, import windows remain closed this week, import declaration opportunities are not given, buying in the foreign trade market is very limited, and the supply of goods arriving in Hong Kong continues to flow into the bonded warehouse so that bonded inventory continues to grow. "View details

Interpretation: what are the signals from the top copper companies released by BHP Billiton's fiscal 2020 results? Although mine production is expected to be affected in fiscal years 2021 and 2022, mine productivity and cost competitiveness will be improved through operating system upgrades and the application of automatic transport trucks, as well as the establishment of an integrated processing system. As a result, the copper production target of 1.2 million tons per year over the next five years will be maintained. In addition, BHP Billiton said in its annual report that the construction of the new Spence concentrator has been completed by more than 93% and will be put into operation between December 2020 and March 2021, with an additional copper concentrate capacity of 90,000 metal tons per year. "View details

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Scan the code to participate in the meeting or apply to join the SMM Electrical Industry Exchange Group

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