October 17 Copper Market Brief Review

Wednesday's Shanghai copper main contract 1912 opened at 46900 yuan / ton in the morning, the opening immediately fell to 46840 yuan / ton, and then the plate rebounded slightly, the center of gravity moved up to around 46900 yuan / ton to maintain stability until the end of the afternoon, the afternoon plate obviously weak, the center of gravity continued to step down to around 46820 yuan / ton, the end of the session bulls quickly withdrew to close at 46750 yuan / ton, down 190 yuan / ton, down 0.
4%.

The average price of electrolytic copper in East China of the South Reserve: 46900 yuan, down 110, the monthly discount quotation: 40 to 60, down 20
.
On the first day of the new month, the market did not improve, and consumption was not boosted by the decline in copper prices
.
At about ten o'clock, the price of flat water copper premium is +40 yuan / ton, and the quotation of good copper is +60 yuan ton
.
In the face of the low level of premium, before the end of the first quarter, the holder slowly appeared to cover the phenomenon of selling, the market circulation of goods decreased, and the premium also showed an upward trend
.
After 11 o'clock, the flat water copper premium has risen to around +50, but the overall performance of the market is still weak and the trading atmosphere is weak
.
Copper premium to the current month premium 60-70 yuan, down 20; flat water copper premium 40-50 yuan, down 20; Wet copper premium 10-20 yuan, down 20
.

The average price of electrolytic copper in South China: 46880, down 110, the monthly discount quotation: 20 to 50, down 15
.
After the change of month, the market atmosphere has recovered, and traders have entered the market to inquire and receive more
goods.
In the morning, flat water copper reported +30, +40 yuan / ton, good copper reported +50, +60 or so, the overall premium rose slightly from yesterday, but traders want to lower the price of the goods, in some cheap flat water copper sources first dropped to +20 yuan / ton, flat water copper began to be +20 yuan / ton concentrated transactions, good copper +50 / ton or so
。 After the second quarter, traders continued to enter the market to receive goods, and the shippers decreased compared with the section, flat water copper premium rose slightly to about 30-40 yuan / ton, but the high price was accepted low, overall, the demand improved compared with yesterday, but in the face of high inventory, the receiver of the high price acceptance is low, the premium to rise is still weak
.

The intraday market trend is more tired, the upward momentum is obviously insufficient, mainly because the IMF once again lowered the global economic growth forecast to 3%, hitting a new low in 10 years of the financial crisis, the market is still worried about the macro weak economic situation is difficult to change in the short term, copper prices are not enough momentum, Shanghai copper closed the entity big Yang column, MACD indicator green column continued to lengthen
.