July 22 Copper Market Brief Review

Today's Shanghai copper main contract 1909 opened at 47640 yuan / ton in the morning, after the opening of the day to the highest level of 47830 yuan / ton, and then the center of gravity of the plate fell to 47670 yuan / ton around the shock finishing, until the afternoon, the afternoon overall showed a shock downward trend, bulls actively reduced their positions, the market fell to the lowest level of the day 47380 yuan / ton, and closed at 47410 yuan / ton, down 100 yuan / ton, down 0.
21%.

South Reserve East China electrolytic copper: 47630 yuan, down 100, the month's premium quotation: -20 to 40, down 10
.
After the weekend, the market trading atmosphere did not improve
.
There is a high price in the morning market, and the premium is 10 to 60 premiums; Insufficient consumption power makes cargo holders have to adjust prices and shipments; Today's good copper premium discount took the lead in sharply adjusting the price, near 10 o'clock, some holders lowered the premium to 40 yuan tons, and the price gap of holders was large; The flat water copper premium price fell to the first line of discount 20-10 yuan / ton at the end of the first section of trading, and the transaction situation was still not satisfactory; Downstream fear of heights and lack
of desire for replenishment.
The Shanghai copper plate remained at a high level, and the spot premium was under pressure, and today's transaction situation was not good
.
Copper premium to the current month premium of 30-50 yuan, down 10; flat water copper discount 20-10 yuan discount, flat; Wet copper discount 60 - discount 50 yuan, down 10
.

South China Electrolytic Copper: 47580 yuan, down 100, the monthly premium quotation: -50 to -30, down 10
.
The social inventory of electrolytic copper in Guangdong increased sharply as scheduled, and the superimposed high market suppressed downstream consumption, and the confidence of the spot trade market was hit
.
In the morning, the bearer began to report flat water copper -30 yuan / ton, which is undoubtedly unattractive, and the trader waits for the holder to adjust the price
.
Pingshui copper was successively lowered to -40, -50 yuan / ton, good copper began to report -30, -40 yuan / ton, only sporadic transactions, but the holders continued to lower the quotation more hesitant, the transaction fell into a stalemate
for a while.
After ten o'clock, the market gradually had a small number of -60 yuan / ton quotation, and many flat water copper was actually traded
at a price of -60 yuan / ton.
Overall, there is a lot of bearish sentiment in the market, the willingness to receive goods is weak, the oversupply of spot goods makes it difficult to trade, and the discount is further expanded
.

Today, Shanghai copper has a large outflow of 914 million yuan in the nonferrous sector, mainly due to the gradual digestion of market optimism, and bulls have withdrawn funds
.
At present, Shanghai copper performance is a volatile pullback situation, mainly due to the weakening of the market's expectations of a sharp interest rate cut in the United States, the dollar returned to a high level, the metal fell under pressure, today's Shanghai copper closed the solid big black column, below the upper Bollinger rail, KDJ curve opening downward, technical lack of support
for copper prices.