September 19 Copper Market Brief Review

On Wednesday, the main contract of Shanghai copper 1911 opened at 47280 yuan / ton in the morning, and the center of gravity stabilized around 47240 yuan / ton after the opening, close to the midday plate rising to 47350 yuan / ton, and opened in the afternoon to test 47260 yuan / ton, and then fluctuated between 47260-47330 yuan / ton, and then pulled up to the highest level of the day 47430 yuan / ton, and fell at the end of the session and closed at 47310 yuan / ton, down 70 yuan / ton, down 0.
15%.

Shanghai copper continued to fluctuate in the pattern, hovering at 47,300 yuan / ton
.
Holders have a strong willingness to raise prices, the morning market quotation premium 160 ~ 190 yuan / ton, traders inquiry active, 160 ~ 170 yuan / ton of flat water copper and 190 yuan / ton of good copper sources are quickly poured in by traders to receive
.
At about ten o'clock, under the guidance of some traders, buying increased, transaction activity increased significantly, and another round of receipt led to a rapid rise in premium quotations, flat water copper increased to 190 yuan / ton, good copper quotations premium 200 ~ liters 210 yuan / ton range, but the high transaction slowed down
.

The enthusiasm of some downstream pre-holiday replenishment during the day was slightly higher than before, and the source of wet copper was difficult to find, and the tight price of goods was high, raised to 120 ~ 140 yuan / ton
.
There are still long-term orders delivered before the National Day holiday, the market still has the willingness to replenish, the overall market is facing various consumption expectations, and the inventory increment is limited, traders take the lead in leading the receiving boom, and the trend of strong quotations is difficult to change
.

The intraday market continued to maintain stability, the overall fluctuation range was about 240 yuan / ton, mainly due to the current market optimism declined, the global macro economy is still weak, investors cautiously bullish, the market waiting for the Fed interest rate decision and Sino-US trade news, so as to further judge the direction
of copper prices.