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[summary of the important news of the copper market] Copper negative in Shanghai period * the willingness of the holder to cash out before the festival is enhanced.
Sep 22,2020 18:22CST
The content below was translated by Tencent automatically for reference.

Today's cash market

Today, the Shanghai Copper 11 contract opened at 51610 yuan / ton, slightly sorted out and slowly raised after opening, until the highest point of 52080 yuan / ton in the afternoon, and closed at 52020 yuan / ton at noon. In the afternoon, the center of gravity fell slightly below the 52000 mark, the center of gravity stabilized at 51900 yuan / ton and arranged horizontally around that position, which fell slightly near the close, and finally closed at 51810 yuan / ton, down 490 yuan / ton, or 0.94%. Spot, this week is the National Day before the centralized inventory period, but the low copper price also failed to give any support to the rising water. The downstream order is poor and lacks the willingness to prepare the database centrally. The performance of pre-festival supply continues to increase, and the willingness of holders to withdraw cash before the festival is gradually increasing. In the absence of consumer support, Shengshui may still be slightly reduced.

Today, the copper in Shanghai is negative, and the KDJ curve converges. Continue to pay attention to the trend of the dollar in the evening, if the dollar maintains a strong rebound, then there is still a lot of pressure above the copper price.

"Sept 22nd SMM Shanghai copper spot market KuaiBao: low copper prices are difficult to attract downstream upside water to continue to fall

SMM Guangdong Copper spot Market KuaiBao: the drop in copper prices failed to stimulate downstream replenishment and desire for holders to continue to ship at reduced prices.

"Sept 22nd SMM North China Copper spot Market KuaiBao: copper prices fell sharply downstream to take advantage of a low amount of replenishment

"Sept 22nd SMM foreign mountain copper spot market KuaiBao: the demand before the festival is weak and the price of incoming goods to Hong Kong continues to fall recently.

LME copper inventory reduced by 125t

Important news of copper city

[SMM analysis: financial markets suffered a full sell-off copper prices fell in the fourth quarter do not need to be too pessimistic] half of September has passed, domestic copper consumption has not yet seen a significant improvement, according to SMM's survey of copper processing enterprises this week, the traditional peak season is nearly half-way, but copper downstream consumption has not yet been significantly boosted. Affected by the weakening demand of the power industry, the orders of copper rod enterprises are still declining, the operating rate of some refined copper bar enterprises has dropped by more than 20%, and the phenomenon of tired storage and production maintenance continues. Although the production performance of copper plate, strip and foil industry is optimistic, this plate accounts for less in the lower reaches of copper. Taken together, copper prices still have to wait for domestic consumption resonance if they want to rise under the macro positive boost. "View details

[ICSG: has a global supply shortage of 235000 tons of refined copper in the first half of the year] the refined copper market turned to a supply shortage of 235000 tons in the first half of this year, following a surplus of 130000 tons of refined copper at the end of the first quarter, according to data released on Monday by (ICSG), an international copper research group. In the first half of this year, adjusted for changes in bonded warehouses in China, the global refined copper supply showed a shortage of 278000 tons, ICSG added. "View details

[Tongling Nonferrous: more than 100 tons of copper overproduction planned last week at the Milado Copper Mine] Tongling Nonferrous said on the interactive platform that after learning from the controlling shareholders that the relevant situation at the Mirado copper mine was greatly affected by the epidemic, production was suspended from March 23 to August 25, and production resumed on August 26, which had a great impact on the project's annual production plan. After resuming work and production, the production and operation is in good condition. Last week, the production of copper metal exceeded the plan by more than 100 tons. The group company is going all out to speed up the pace of reaching the standard and production of the project. "View details

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