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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper morning review on May 24

    Shanghai copper morning review on May 24

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    Overnight, the Shanghai copper 1607 contract opened high at 35200 yuan / ton, after the opening down to a low of 35030 yuan / ton, and then with crude oil and London copper shock rose to 35370 yuan / ton, after the high narrow finishing, the end of the dive gave up all the gains, and finally Shanghai copper closed at 35180 yuan / ton, up 30 yuan / ton
    .

    Shanghai copper

    In terms of market: Shanghai electrolytic copper spot reported a premium of 40-80 yuan / ton, and the transaction price of flat water copper was 35120-35320 yuan / ton
    .
    In the morning, the quotation of cargo holders was firm, and the good copper reported a premium of 70-80 yuan / ton, but the transaction fell into a stalemate
    between supply and demand.
    Later, as the price of the plate rose, the willingness of the holders to cash out appeared, which slightly loosened the copper premium, and traders bought
    at the bottom.
    Today's market has shown note factors, with a spread of 10-20 yuan / ton
    .

    Inventories: As of May 20, the previous Shanghai copper inventory reported 257334 tons, a weekly decrease of 28,876 tons, close to the low set on February 5 this year, after the inventory fell for nine consecutive weeks, with a cumulative decrease of 137443 tons or 34.
    8%.

    Summary of views: The overnight Shanghai copper oscillation stabilized to 35160 yuan / ton, which was stronger than other non-ferrous metals and ferrous metals, indicating that after the short-term continuous decline in copper prices, the willingness to fall has slowed down, and it is necessary to pay attention to its technical rebound possible
    .
    In operation, it is recommended that the Shanghai copper 1607 contract can be sold high and low between 35000-35800 yuan, and the stop loss is 350 yuan / ton
    each.

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