December 23 Shanghai copper morning review

In terms of market: on December 22, Shanghai electrolytic copper spot reported a discount of 200-70 yuan / ton for the contract of the month, and the transaction price of flat water copper was 45580-44760 yuan / ton
.
Speculators bargain on the dip, downstream favor the source of the month's notes, bill factors began to significantly affect the market quotation, some traders for the end of the year before the last supplementary tickets, so that the current month's ticket supply is tight, and the next month's ticket source price difference widened to 30-40 yuan / ton
.
At the end of the afternoon, the Shanghai copper fell straight down, the basis narrowed in the next month, but it is difficult to narrow the copper discount, of which wet copper is still lacking, and there is a price difference with flat water copper, and the overall transaction is dominated by middlemen to make up tickets, and the transaction is deadlocked
.

Stocks: As of December 16, Shanghai copper stocks in the previous period reported 144026 tons, a weekly increase of 12,076, the first increase in three weeks, indicating that short-term domestic inventory pressure has increased
.

Overnight, the main force of Shanghai copper bottomed out and rebounded to 44960 yuan / ton, as the London copper inventory continued to decrease in the past three days, alleviating the market's concerns about the increase in London copper inventory, and the year-end capital tightening concern was gradually digested
.
It is recommended that the short-term copper market operation turn from bias to range oscillation
.
The Shanghai copper 1702 contract can sell high and low in the range of 44500-46000 yuan, with a stop loss of 500 yuan / ton
each.