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    Home > Chemicals Industry > New Chemical Materials > Brief review of Shanghai copper on August 21

    Brief review of Shanghai copper on August 21

    • Last Update: 2022-12-12
    • Source: Internet
    • Author: User
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    Today's morning Shanghai copper main 1810 contract opened at 48490 yuan / ton, the beginning of the session fell slightly, to the low of the day 48300 yuan / ton, then copper prices fluctuated upward, in the afternoon, the outside market took the lead to pull up, bulls took advantage of the trend to increase positions, Shanghai copper rose widened, touched 48730 yuan / ton, the end of the session short more exit, closed at 48700 yuan / ton, up 620 yuan / ton, a daily increase of 1.
    29%, won the 5-day moving average support
    .

    Shanghai copper

    South Reserve East China: the average spot price of electrolytic copper was 48680 yuan, up 170, and the price of the premium was 190 to 250, down 15
    .
    In East China, in the morning, the holders maintained yesterday's premium quotation, and there were many imported copper inflows in the market, alleviating the problem of tight supply, the receivers had a low acceptance of high premiums, and the transaction was not smooth, so merchants had to lower the premium dumping goods, because they were worried that the market premium would fall after the continuous inflow of imports, the overall receipt was cautious, and the transaction was average
    .
    Today's premium copper mainstream trading pair futures contract premium 250 yuan, flat water copper premium 180-190 yuan, wet copper premium 130-140 yuan
    .

    South China Reserve: The average spot price of electrolytic copper was 48,700 yuan, up 180, and the price of the premium was 230 to 260, flat
    .
    In Guangdong, the willingness of cargo holders to raise prices in early trading was high, but the high premium suppressed the enthusiasm of receivers; Subsequently, some traders took the initiative to reduce the price and ship the premium fell slightly, but the receiver was bearish and the market premium was raised, and the willingness to receive goods was always not high
    .
    Overall, today's trading is relatively quiet and the transaction is not good
    .
    The premium copper mainstream trading pair futures contract premium 260-270 yuan / ton, flat water copper premium 220-240 yuan / ton
    .

    After Trump pressed the Fed on Monday, the U.
    S.
    index continued to slide today, oscillating around 95.
    5, and London copper broke through the $6,000 / ton integer mark
    .
    Market investors still have some expectations for the outcome of the Sino-US trade negotiations, which will boost copper prices in the short term
    .
    At the same time, the US Trade Office began a six-day public hearing on Trump's proposal to impose $200 billion in tariffs on Chinese goods on August 20, which directly targeted consumer products, laying another hidden danger for the subsequent rebound of copper prices, and closely watched the follow-up progress
    .

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