July 4 Copper Market Brief Review

Today's Shanghai copper main contract 1908 opened at 46500 yuan / ton in the morning, after the opening of the center of gravity fell slightly to 46470 yuan / ton, then the plate pulled up to the highest level of the day 46550 yuan / ton, but the market confidence is insufficient, the high level is difficult to stand, and then the plate fell all the way to 46430 yuan / ton around the narrow range of shock finishing, after the noon open, the center of gravity of the plate short-term maintained around 46440 yuan / ton, continued to oscillate down to the lowest level of the day 46330 yuan / ton, the end of the session closed at 46350 yuan / ton
。 Up 20 yuan / ton, up 0.
04%.

The average price of electrolytic copper in East China of the South Reserve: 46570 yuan, up 190, the price of the month's liter discount: 80 to 140, up 25
.
Today's premium price continues to rise, some holders in the morning have a strong willingness to raise prices, flat water copper premium reported +90, +100 yuan / ton, but the concentrated transaction price is between 60 ~ 80 yuan / ton, low-price source consumption speed is fast; Near 10 o'clock, the supply of +70 yuan / ton is basically exhausted; Good copper was reported at +130 yuan ton in the morning, the transaction situation was good, and the quotation then rose slightly to +150 yuan / ton, and traders were afraid of heights to promote the good copper quotation There is a certain price pressure
.
Overall, the decline in copper prices this week is to some extent conducive to spot market trading, and the market transaction situation has improved, but traders still show caution today, and the willingness to receive goods at low prices is strong
.
Copper rose 25 yuan to the month's premium of 130-150 yuan; flat water copper premium 70-80 yuan, up 20; Wet copper flat water 0-liter water 10 yuan, up 20
.

The average price of electrolytic copper in South China: 46500 yuan, up 170, the monthly discount quotation: 40 to 50, up 10
.
Copper prices are running at a low level, boosting downstream consumption, and holders continue to hold prices, flat water copper began to report +40, +50 yuan / ton in the morning, good copper +60, +70 yuan / ton, relatively low price of +40 flat water copper began to be traded, driving the overall premium to fall slightly, flat water copper concentrated at +40, good copper + 60 yuan / ton
.
After ten o'clock, +30 yuan / ton of flat water copper appeared on the market, but only a small amount
.
Overall, the recent sharp decline in copper prices has stimulated downstream consumption, spot premiums have followed, traders are generally receptive to high premiums, and generally want to find low-priced sources, but the overall premiums are relatively firm, so the transaction performance between traders is deadlocked
.

Recently, the economic data released by countries around the world at the macro level are relatively light, macro sentiment is pessimistic, and oil prices are also showing a downward trend today, as the market's concerns about economic slowdown exceed the support of OPEC production cut agreement on oil prices, and the downward pressure on copper prices increases in the context of weak demand; From a fundamental point of view, copper downstream consumption continues to be light, supply-side pressure increases, and there is still no positive news
about copper prices.
Today's overall performance of Shanghai copper continued to decline, closing slightly negative, the upper shadow was under pressure on the Bollinger mid-band, and the lower part lost all moving average support, the KDJ indicator continued to expand bearishly, and it was difficult to support copper prices
technically.