September 17 Shanghai copper brief commentary

Today is the last trading day of the 1809 contract, since last week the next month has been inverted basis pattern, after today's opening, the inverted basis expanded from 230 yuan / ton to 250 ~ 260 yuan / ton, until the second trading session, has been expanded to 300 ~ 320 yuan / ton
。 SMM copper price still maintains the quotation of the month until after the change of month, the market has quoted on the 1810 contract, the morning market quotation is 1810 liters of water 150 ~ 200 yuan / ton, the transaction is blocked and no one cares, some holders take the initiative to reduce the quotation, good copper premium 170 ~ 180 yuan / ton, flat water copper is generally in the premium 130 ~ 140 yuan / ton, wet copper concentrated transaction in the premium 80 ~ 100 yuan / ton
。 On the delivery day, the downstream is cautious and still wait-and-see, but traders are active, focusing on the price of good copper, after the spread widens, the premium is difficult to press, the holder pulls back the morning market high premium quotation, but the willingness to trade speculation is correspondingly suppressed
.
There are still differences between supply and demand in quotation and transaction, raising the premium is the trend of the willingness of the holders, and it is difficult for the premium to drop sharply after tomorrow's moon change, and most of the holders have the mentality
of holding the goods before the long holiday.

Shanghai copper was blocked from falling above today, but the bottom was temporarily supported by the 10-day moving average, wary of signs of KDJ pulling away, and continued to pay attention to the initiative performance of short positions in the evening, Shanghai copper to hold the 10-day moving average as the priority
.