October 24 copper market noon review

Today's Shanghai electrolytic copper spot contract reported flat water ~ premium 50 yuan / ton, flat water copper transaction price 47300 yuan / ton ~ 47350 yuan / ton, premium copper trading price 47330 yuan / ton ~ 47380 yuan / ton
.
Overnight crude oil soared, coupled with a number of Chilean copper mines joined the strike activity, Shanghai copper was guided by two favorable signals to rise to 47,300 yuan / ton, an increase of more than 300 yuan / ton
.
Copper prices are high to suppress market buying sentiment, and today is the last trading day of the monthly ticket before the tax stamp upgrade, this month's long order has basically ended, morning market holders quoted a premium of 30-60 yuan / ton
.
However, because no one responded, it was reduced to about 40 yuan / ton of good copper premium, and 10 ~ 20 yuan / ton of flat water copper premium, and the transaction improved
.

In the second trading session, eager to exchange cash holders to lower the quotation again, flat water copper was as low as near flat water, good copper was forced to lower to 30 yuan / ton before slowly falling, wet copper followed by the lower quotation discount of 20 yuan / ton ~ flat water
.
Before the tax stamp upgrade, most of today's market has been dominated by the following monthly pass transactions, and some monthly passes still maintain a price difference
of nearly 30 yuan / ton with the next monthly pass.
Higher copper prices have inhibited downstream cargo taking, and traders have abundant inventories, resulting in a weak
overall demand performance in the market.