October 26 Shanghai copper brief commentary

South Reserve East China: average price of electrolytic copper: 49950 yuan, up 400, liter discount quotation: -90 to -60, down 60
.
East China: Inventories continue to rise, the East China market is relatively sufficient, but downstream consumption is not good, holders have sharply adjusted prices to dump goods, the discount has further expanded, the end of the month capital is obviously tight, buying is weak, the overall transaction is cold
.
Today's premium copper mainstream trading pair futures contract discount of 60-80 yuan, flat water copper discount 90-110 yuan, wet copper discount 200-220 yuan
.

South China Reserve: average spot price of electrolytic copper: 49850 yuan, up 470, premium quotation: -180 to -150, up 10
.
In Guangdong, yesterday's sharp drop in copper prices boosted downstream consumption, inventories began to decline slightly, and there were some traders receiving warehouse receipts, speculative enthusiasm increased, so that morning shippers showed a strong price sentiment, flat water copper quotations narrowed to a discount of 170 yuan / ton, but the transaction was not smooth, most of the receivers wanted to continue to lower the price to flat water copper discount 200 yuan / ton to receive goods, and the shipper's willingness to adjust the price was not high, the overall transaction was general, showing a stalemate
.
The premium copper mainstream trading pair futures contract discount of 150-160 yuan / ton, flat water copper discount 180-190 yuan / ton, wet copper discount 250 yuan / ton
.

Today's Shanghai copper main center of gravity moved down again, directly under pressure on the 5-day moving average, the 10th, 20-day moving average tends to stick, the closing negative solid part loses the Bollinger track mid-orbit support, MACD green energy column is expanding, pay attention to the performance of long and short positions in the evening, wait for external guidance, test whether Shanghai copper can hold 49500 yuan / ton
.