May 11 Copper Market Afternoon Review

Copper market afternoon commentary: risk appetite generally improved stock market rise, Shanghai copper on Friday night strong finishing, Peru and other copper-producing countries large-scale recovery of production capacity is difficult, and the consumer market gradually recovers, copper today or continue to rise
.

Today's Shanghai electrolytic copper spot contract reported a premium of 30 yuan / ton ~ 90 yuan / ton, flat water copper trading price of 44080 yuan / ton ~ 44160 yuan / ton, and premium copper trading price of 44090 yuan / ton ~ 44180 yuan / ton
.
Shanghai copper continued to rebound, and the morning market rose rapidly to break through the 44,000 yuan / integer mark
.
The opening spot quotation premium is around 100 yuan / ton, but due to the continuous rebound of the futures and the rapid liquidation of the current month, the price difference of the next month widens to more than 200 yuan / ton, which greatly increases the willingness of holders to cash out, and it is difficult for the premium to hold fast and decline
.

In the second trading session, the discount was as low as about 20 yuan / ton, near the end of the afternoon market, wet copper has reported a discount of 50 yuan / ton, flat water copper in flat water ~ premium 10 yuan / ton, good copper premium 10 ~ liter 20 yuan / ton
.
This week is close to delivery, but the price difference in the next month has expanded to 200~220 yuan / ton, the premium has been difficult to top, the number of cash dumpers has increased, the willingness to trade speculation has decreased, the downstream fear of heights, the state of oversupply highlights the spot premium may quickly slide to the discount pattern
before this week's delivery.