December 10 Copper Market Brief Review

On Monday, the main contract of Shanghai copper 2002 opened at 48240 yuan / ton in the morning, the intraday market sentiment continued the high trend on Friday, the opening continued to rise, bulls actively entered the WTO, as of the end of the afternoon center of gravity rose to around 48280 yuan / ton, the afternoon opening market trading atmosphere continued to be strong, the market continued to rise and broke through the 48400 yuan / ton mark, reaching the highest point of the day 48450 yuan / ton, the end of the session fell slightly and closed at 48440 yuan / ton, up 1070 yuan / ton, The one-day increase reached 2.
26%, a new high
in nearly half a year.

The average price of electrolytic copper in Shanghai in the South Reserve: 48100 yuan, up 710, the monthly discount quotation: 120 to 130, down 40
.
Shanghai copper opened sharply higher on the positive news, rising above 48,000 yuan / ton
.
The quotation of holders in the morning market has been significantly adjusted compared with the morning trading on Friday, and the quotation of flat water copper premium is +120, +130 yuan / ton, but as of the end of the first quarter, there has been no substantial transaction, and it continues to show a downward trend; In order to seek shipments, the price of good copper also continued to decline, and the price of some prices was the same as the
quotation of flat water copper.
The flat water copper premium continued to slide to +100 before ushering in centralized transactions
.
Overall, the rise in the market has a great impact on the spot market, downstream buying sentiment is reduced, and holders are more cautious
in the face of last week's high premium.
The premium copper rose 120-140 yuan for the month, down 30; flat water copper premium 100-120 yuan, down 35; Wet copper premium 60-80 yuan, down 5
.

The average price of electrolytic copper in Foshan in Nanchu: 48030 yuan, up 730, the monthly discount quotation: 50 to 80, down 5
.
In early trading, Shanghai copper continued the strong trend of last Friday night, and the main Shanghai copper contract rose sharply by 830 yuan
at the close.
The sudden rise in copper prices is not conducive to downstream procurement, but the basis of the early interval month has expanded, and the supply of goods on the market is not much, the holders firmly hold the price, flat water copper reported a premium of 50, 60 yuan / ton, good copper reported a premium of 90 yuan / ton, basically the same
as last Friday.
The transaction of flat water copper face showed a relatively smooth performance, once concentrated on raising to 60 yuan, and after the basis narrowed, the mainstream transaction premium of flat water copper dropped to about
50.
Good copper lacks speculative willingness, and downstream demand is also less, and the transaction is relatively difficult, and the mainstream quotation is about
80 yuan.
Overall, the market supply circulation is not much, the willingness of the holders to raise the price is strong, and the willingness of traders to receive goods is also good, the low-price flat water copper trading is better, after eleven o'clock, traders have difficulty finding the source of flat water copper, it is expected that the premium will continue to be strong
.

The intraday market continued last Friday's rally and walked out of a new high in nearly half a year, mainly because the US non-farm payrolls data was very strong, showing that the overall improvement of US interest rates and economic conditions, boosting the market's high expectations for global demand to pick up, non-ferrous metals were red overall, superimposed on OPEC+ members on the basis of reaching a production reduction agreement to continue to reduce additional production, crude oil out of the high level in nearly 2 months, Shanghai copper was boosted strongly
.