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    Home > Chemicals Industry > New Chemical Materials > September 3 Copper Market Brief Review

    September 3 Copper Market Brief Review

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    On Monday, the main contract of Shanghai copper 1910 opened at 46590 yuan / ton in the morning, opened up to test the 46630 yuan / ton mark, and then fell to around 46570 yuan / ton, and then continued to rise until the end of midday, the afternoon continued to rise to 46700 yuan / ton, the center of gravity at the end of the session moved slightly down and closed at 46640 yuan / ton, down 100 yuan / ton, down 0.
    21%.

    The average price of electrolytic copper in East China of the South Reserve: 46620 yuan, down 100, the monthly discount quotation: 80 to 100, up 30
    .
    Shanghai copper opened low and volatile on a daily basis, the spot market inquired actively in the morning, and holders shipped enthusiastically
    .
    However, at the beginning of the month, the willingness of the holders to raise prices was strong, the premium quotation was high, the market response was not strong, and the transaction was weak
    .
    Downstream is cautious in the face of high premiums, and the wait-and-see mood is high
    .
    In the second trading session, Pingshui copper premium continued to maintain high quotations, the willingness of holders to adjust prices was not high, the price of good copper was slightly reduced, market activity gradually weakened, and the supply and demand sides were deadlocked
    .
    The overall intraday premium is quite obvious, the characteristics of market stalemate and tug-of-war are obvious, and the transaction is weak
    .

    The average price of South China electrolytic copper: 46560 yuan, down 90, the monthly discount quotation: 10 to 50, up 40
    .
    In September, the market inquiry atmosphere is still active, but the willingness of holders to quote and ship is low
    .
    Pingshui copper began to report flat water, good copper reported +50, the overall quotation rose by about 40-50 yuan from last Friday, all were traded, and traders entered the market one after another to receive goods, quotations continued to rise
    .
    Around ten o'clock, the mainstream of flat water copper reported +10 to +20, and some even reported +30, and good copper has been less heard of shipments, and the supply is less
    .
    Overall, traders continued last week's receiving sentiment, low-priced sources of goods were hot, superimposed on the lack of supply, holders gradually adjusted prices to flat water copper premium, but the transaction slowed down
    after high prices.

    The overall performance of the intraday plate was a slight rebound at a low level, mainly because the current domestic manufacturing PMI data for August returned to above the boom and bust line, up 0.
    5% from July, and the manufacturing boom improved slightly, supporting the bottom of Shanghai copper, and copper prices rebounded
    slightly.
    However, due to the weak trend of the global macroeconomy, coupled with the high US dollar, the recovery rate is still not high, and the overall is still hovering
    at a low level.
    At present, Shanghai copper closed negative, supported by the Bollinger mid-band below, the MACD indicator red column has been lengthened, and the technical picture is slightly favorable to Shanghai copper
    .

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