-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Today's Shanghai copper main contract 1608 contract rushed back down, cutting most of Monday's gains, fell to 35840 yuan / ton at the end of the day, down 1.
16% from yesterday's closing price, short-term off-season factors and poor terminal demand made the market worried, Shanghai copper or still under pressure, copper price operating range focus on 35500-36500 yuan / ton
.
In the external market, today's London copper fell under pressure overnight, of which the 3-month London copper fell 0.
38% to 4658 US dollars / ton, so that copper prices have not effectively broken through the upper moving average suppression
.
The Fed's measure of labor market conditions fell sharply below expectations and was below zero for the fifth straight month, signaling the fastest deterioration in the U.
S.
labor market in seven years
.
Expectations of a Fed rate hike in June and July fell
sharply.
After the data was released, the dollar index fell slightly and then recovered, and London copper fell back under pressure
.
Macro: U.
S.
Markit services PMI final value in May was 51.
3, worse than expected, while the ISM non-manufacturing index fell to 52.
9 in May, the lowest since February 2014, worse than expected and prior
, data released overnight.
Poor services data further lowered expectations of a Fed rate hike in June, and the Asian dollar index fell under pressure to around
93.
88.
In terms of market: on June 7, Shanghai electrolytic copper spot reported a premium of 110-140 yuan / ton, and the transaction price of flat water copper was 36080-36170 yuan / ton
.
At present, the quotation of flat water copper in the copper market is small, so that flat water copper is strong at 110-120 yuan / ton of water premium, and passively supports the copper water premium of 120-140 yuan / ton
.
Holders mainly exchange good copper for cash, but few buys
.
Approaching the Dragon Boat Festival holiday, there is still no expected downstream stocking, but the willingness of holders to raise prices is increasing
.
Today's Shanghai copper 1608 contract slipped to 35840 yuan / ton, its performance was weaker than other base metals and London copper, and fell back to the three-week low oscillation trend, indicating that short-term long-short trading is repeated, increasing the uncertainty
of copper price volatility.
It is suggested that the Shanghai copper 1608 contract can temporarily take 35800 yuan as the dividing line, and the operating range is 35500-36500 yuan / ton
.
