December 27 Shanghai copper morning review

In terms of the market, as of 2017-12-26, the spot price of SMM 1# electrolytic copper was 54280 yuan / ton, down 310 yuan / ton from the previous day, and the discount was 300 yuan / ton compared with the near-month contract, and the high level of Shanghai copper was blocked
.
Large enterprises in the spot market have ended long-term transactions, and it is more difficult to complete zero orders, and the tide of price reduction and selling continues
.
Most of the markets on that day had no invoices to issue, and the characteristics of presenting tickets were rare and expensive
.

Yesterday's positive news continued to be released, and the market reaction was obvious
.
First, there was an environmental protection production restriction incident in Jiangtong, but according to SMM, the current production of Jiangtong is normal, and how to ferment in the future will depend on the results
of negotiations between Jiangtong and government departments.
After the implementation of the scrap copper policy gave market confidence, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) announced the approval volume of the first batch of restricted imports (that is, scrap seven) approved in 2018, compared with last year, the first batch of approval for mixed metal this year fell sharply by 96%, and all the scrap copper-related enterprises approved were located in Taizhou
。 From a fundamental point of view, near the end of the downstream consumption is dismal, the supply side is abnormally flooded, the subsidy expansion to 340, but looking at the medium and long term, due to the market's hopes for the accelerated recovery of the global economy, the tight end of the mine and the impact of the scrap copper policy, copper prices have been rising, it is expected that today's Shanghai copper main force 1802 range of 55000 ~ 55500 yuan / ton
.