November 1 Copper Market Brief Review

On Thursday, the main contract of Shanghai copper 1912 opened at 47390 yuan / ton in the morning, and the bulls immediately closed a large number of positions after the opening, and the market quickly fell to a low of 47310 yuan / ton, and then rebounded slightly and continued to fall to the lowest point of the day of 47270 yuan / ton, and then the center of gravity rebounded slightly, and the center of gravity continued to move up to around 47360 yuan / ton in the afternoon, and closed at 47330 yuan / ton, down 180 yuan / ton, or 0.
38%.

The average price of electrolytic copper in East China of the South Reserve: 47170 yuan, down 240, the monthly discount quotation: -10 to 10, flat
.
In the morning, the quotations of flat water copper and good copper were in flat water to +20 yuan / ton, the market consumption continued to be weak and the transaction weakened, and the price of flat water copper was lowered to -10 again at about ten o'clock, and the quotation of good copper was lowered to +10, the same as the previous day's price; During the second trading session, market activity dropped significantly, and quotations remained unchanged
.
Affected by the cash-in sentiment of holders at the end of the month, some traders sold at low prices
.
Overall, Shanghai copper fell sharply from the high, but it did not stimulate the buying sentiment, market consumption was difficult to boost, and the premium fluctuated
slightly at the low level.
The premium copper is 10-20 yuan for the current month, which is flat; Flat water copper sticker 10-0 yuan, flat; Wet copper sticker 60-50 yuan, down 20
.

The average price of electrolytic copper in South China: 47140 yuan, down 230, the month's premium quotation: -50 to -10, up 10
.
Boosted by the fall in copper prices, holders have a strong price sentiment, in the morning flat water copper newspaper discount 50 yuan, good copper newspaper discount about 10 yuan, because large households continue to ship at low prices, and some holders need to return funds, flat water copper report discount 60 yuan, a small amount of flat water copper is even lower, resulting in the overall discount center of gravity down, the transaction has begun
one after another.
After ten o'clock, the low-priced source of goods has been almost consumed, and the holder insists on raising the flat water copper to a discount of 50 yuan, but the recipient's recognition is low, and the high-price transaction is not easy
.
Overall, the willingness to receive goods at the end of the month is not good, the relationship between supply and demand remains loose, and trading is quiet
.

The center of gravity of the intraday market has retreated, mainly because the release of domestic October PMI data in the morning was less than expected, which intensified domestic concerns about the manufacturing situation, and Shanghai copper fell 80 yuan
in an instant.