December 20 Copper Market Brief Review

On Friday, the main force of Shanghai copper first rose and then suppressed, and the overnight gains converged and turned lower in the afternoon, and as of the close of the day, the main Shanghai copper 2002 contract closed at 49030 (-10, -0.
02%)
。 The domestic central bank's reverse repurchase quotation was lowered, counter-cyclical regulation and stabilization of the economy became the focus, the market is expected to reduce the RRR and interest rates again in January, and the suspension of Sino-US trade tariffs eased tension, and the medium-term Shanghai copper price center of gravity continued to move upward, but in the short term, the breakthrough strength of Shanghai copper bulls is still doubtful, the spot market is close to the end of the year, the market discount range increases, after the afternoon bulls' power reduction turned up to fall, it is expected that the recent Shanghai copper high volatility is the mainstay, The range is 4.
95-48,800, and it is recommended to wait and see in operation, and merchants are stocking up on the low
.

The average price of electrolytic copper in Shanghai in the South Reserve: 49010 yuan, up 160, the monthly discount quotation: -150 to -140, down 65
.
The market continued to show weakness during the day, the morning opening discount fell sharply from the previous day, flat water copper quotation -130 yuan / ton or so, but the discount still did not stop falling, around ten o'clock, the quotation has dropped to -140 yuan / ton, the first quarter before the break to -150 yuan / ton quotation
.
In the second quarter, the supply of traders decreased significantly, and the trading atmosphere was relatively weakened
.
On the whole of the intraday market, the holders took the initiative to lower the quotation, actively shipped, and the circulation of goods was relatively loose
.
The premium copper was discounted 140-130 yuan for the month, down 60; flat water copper sticker 150-140 yuan, down 50; Wet copper sticker 190-180 yuan, down 50
.

The average price of electrolytic copper in Foshan in Nanchu: 49150 yuan, up 220, the month's discount quotation: -30 to 10, down 5
.
Foshan: Shanghai copper rose strongly again, with the main contract rising 310 yuan/mt at the midday close, which is not conducive to downstream procurement
.
The morning quotation of the holder is correspondingly soft, flat water copper sticker 10-20, lack of attention, -20 flat water copper a small number of transactions, and intraday supply is more, in order to seek the transaction of flat water copper sticker underwater expansion to -30 yuan, low-price sources attract traders to receive goods, active transactions
.
However, after ten o'clock, the low-priced supply was almost consumed, and the big households were firmly affected by the flat water copper sticker 20 line, and the transaction was deadlocked
.
In terms of good copper, the quotation is not much, the liter water 0-20, the transaction is not much
.
Overall, there are more intraday shippers with sufficient supply, while demand remains sluggish, and spot prices are under pressure, but large households have low willingness to ship at low prices, and there is not much
room for price reduction.