-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
On Monday, Shanghai copper opened high, the main monthly 1810 contract opened at 48560 yuan / ton, the highest intraday 48880 yuan / ton, the lowest 48540 yuan / ton, settled 48750 yuan / ton, closed 48790 yuan / ton, up 350 yuan, or 0.
72%.
On the macro front, the dollar index performed worse last week, falling as low as it fell to a three-week low of 94.
91
as US President Donald Trump slammed the Fed's interest rate hike policy.
Fed Chairman Jerome Powell's dovish speech on Friday was dovish, with the dollar index closing down 1% on the week at 95.
152
.
In terms of the market, the Shanghai copper range fluctuated at 48500 yuan in the first line, there were many shipments, and the morning market holders quoted a premium of 90~130 yuan / ton for the month, but due to the lack of response, they took the initiative to reduce the premium to 70~110 yuan / ton, but the market buying interest is low, and the price of good copper can be pressed to 100 yuan / ton
.
Recently, the concentration of imported copper has returned to a loose trend, and the market has also performed accordingly, the contract price of the month has declined, and the price difference between contracts has been reopened in recent days, gradually showing a pattern of near weakness and far strong, re-attracting some traders to enter the market to receive goods at a low price
.
The market range is volatile, the downstream is not eager to receive the goods, the enthusiasm for trading is declining, and the market initiative returns to the buyer
.
In terms of inventory, the warehouse receipts in the previous period on the 24th decreased by 1180 tons (-2.
02%) month-on-month and 9947 tons (-14.
83%) year-on-year to 57109 tons
.
COMEX warehouse receipts decreased by 724t (-0.
37%) month-on-month and increased by 13,885t (+7.
71%) y-o-y to 194024 t
.
LME warehouse receipts increased by 125t (+0.
05%) month-on-month and 22,025t (+8.
99%) y-o-y to 2670750 t
.
In terms of news, data from the National Bureau of Statistics showed that the profit of industrial enterprises above designated size in July was 16.
2% year-on-year, compared with 20% in the previous month, and the growth rate declined; The asset-liability ratio of state-controlled enterprises was 59.
4%, down 1.
3 percentage points year-on-year and the lowest level
since 2016.
Domestic copper consumption performance is relatively weak, especially the real estate market, but fewer new mines and a decline in copper mine taste may lead to tighter copper supply in the future, copper prices should not be overly bearish, it is expected that short-term Shanghai copper finishing is dominant
.
