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    Home > Chemicals Industry > New Chemical Materials > August 21 Shanghai copper morning review

    August 21 Shanghai copper morning review

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    On Friday, the main force of Shanghai copper 1710 showed a trend of rushing back down, opening at 51100 yuan / ton, after the opening straight line to 51300 yuan / ton, then the bulls closed the position and left the market, copper prices fell sharply to the 20-day moving average of 50680 yuan / ton after stopping the decline repair, the end of the session rushed up the daily average to 51030 yuan / ton, and finally closed at 50980 yuan / ton, up 70 yuan / ton, and the warehouse increased by 3604 lots to 228,000
    .

    Shanghai copper

    In terms of the market, as of 2017-8-18, the spot price of 1# copper is 50530 yuan / ton, up 670 yuan / ton from the previous week, and the discount of the near-month contract is 400 yuan / ton, last week the 1709 contract completed delivery, the delivery period premium follows the basis change, the overnight price difference before delivery is about 130 yuan / ton, the spot quickly rises to 20 yuan / ton - 90 yuan / ton, return to the discount after the month, the proportion of good copper is small, the discount is still attractive, the transaction is good, the downstream is afraid of heights, Keep buying appropriately when pulling back, and the spot is stable at a discount of 140-90 yuan / ton
    .

    At present, the US dollar is still weak, increasingly strict environmental protection inspections and stable demand growth make the metal sector bullish atmosphere, copper prices still maintain an upward trend, in the short term will maintain a high level of consolidation, currently no turning signal, it is expected that today's Shanghai copper 1710 range of 50750-51100 yuan / ton
    .
    In terms of spot, the current source of good copper is small, the downstream only maintains just need to take the goods, today is expected to discount 120-discount 90 yuan / ton, downstream can bargain replenishment
    .

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