July 1 Shanghai copper morning review

Market: On June 30, Shanghai electrolytic copper spot reported a discount of 10 yuan / ton - 40 yuan / ton of water premium, and the transaction price of flat water copper was 37400-37580 yuan / ton.
Some holders of quotations and shipments are positive, especially good copper has been reduced to a premium of 20 yuan / ton -30 yuan / ton, compared with flat water copper transactions are still tired and difficult to mention, intraday transactions are still mostly a small number of traders with financial ability, charging low-priced sources, looking forward to tomorrow into July after can hold the premium and return to the state of
rising water.

In terms of stocks: As of June 24, the previous Shanghai copper stocks reported 155235 tons, a sharp weekly decrease of 10,870 tons, the 14th consecutive week of decline, close to the low of 152934 tons set on October 9 last year, a cumulative decrease of 239542 tons
.

The main oscillation of Shanghai copper stabilized overnight at 37,470 yuan / ton, and the daily closing price was close to the high set on May 3 this year
.
The intraday market focused on China's Caixin manufacturing PMI performance in June, which was still below 50 in May, and operational caution
is required.
It is recommended that the Shanghai copper 1608 contract can be sold high and low between 37500-36600 yuan, and the stop loss is 350 yuan / ton
each.