December 8 Shanghai copper morning review

In terms of the market, as of 2017-12-7, SMM 1# electrolytic copper spot price is 51400 yuan / ton, up 90 yuan / ton from the previous day, compared with the recent month contract premium 5 yuan / ton, copper prices are hovering at a low level, holders are still based on cash, although the morning market quotation starts with flat water - premium 40 yuan / ton, but soon there is a tide of price reduction, yesterday's downstream buying volume has not seen a significant expansion, because good copper took the lead in reducing prices, and flat water copper almost no price difference, traders prefer good copper, copper prices have not yet stabilized, the market is still cautious, The deal was not as good as yesterday.

Affected by the overall metal low buying into the market, the low of Shanghai copper night trading rose slightly, but the overall increase was obviously limited, basically around the narrow range fluctuation above 51,000 yuan, technical bears continue to dominate, it is expected that the market will continue to adjust, and Shanghai copper is expected to maintain a narrow range
.