November 13 Shanghai copper morning review

In terms of the market, the spot market premium fell with the price of copper, and at the beginning of the week it was still struggling around 100 yuan of flat water - liter water, but the Shanghai ratio was high, a large number of imported copper poured in, Shanghai inventory continued to increase sharply, the plate fell, the value preservation order and profit shipment, the willingness of holders to cash out continued to strengthen, the market showed signs of concentrated dumping, and the premium declined
.
Although the characteristics of oversupply are obvious, the transaction between supply and demand is still a tug-of-war, downstream starts are declining and do not continue to be bullish on copper prices, cautious entry into the market, transaction difficulties to improve
.

In the short term, Shanghai copper spot maintenance discount highlights the short-term oversupply characteristics, import profits continue to open, it is expected that import arrivals will increase, coupled with domestic speculative capital speculation, it is expected that the copper price adjustment situation has not yet ended, while it is necessary to pay close attention to the situation of the Grasberg copper mine, if production is substantially affected, the copper market sentiment may have a positive effect
.
FYI
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