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Trade Service
On Wednesday, base metals were mixed, indicating weak copper prices and an increase
in short positions.
Among them, the Shanghai copper shock is weak, the CU1901 contract trading range is 49210-49890 yuan / ton, and the end of the day closed at 49470 yuan / ton, down 0.
38%
on the day.
In the external market, as of 15:33 Beijing time, the three-month London copper was reported at 6166.
0 US dollars / ton, up 0.
37% on the day, and its upper pressure level was focused on 6200 US dollars / ton
.
In terms of the market, London copper fell overnight, Shanghai copper fell with it, and the copper price slipped to 49400 yuan / ton in the morning after the shock sorting
.
The early interval monthly price difference is still 50 yuan / ton, after the decline of the market downstream into the market has improved, so that the willingness of holders to control the price of goods is further enhanced, the morning market holders quote premium 20-50 yuan / ton, the market transaction is positive, as the next month price difference widens to 70-80 yuan / ton, the holder continues to raise the price, all the way to the premium 40-70 yuan / ton
。 Entering the second section of the trading stage, the market activity is high, the inquiry atmosphere is active, the spot quotation is raised again, the flat water copper quotation to the premium 50-60 yuan / ton, good copper has been premium 80-90 yuan / ton, downstream bargain buying, maintain the rhythm of just demand, wet copper quotation followed the upward adjustment, the market quotation discount 90-discount 50 yuan / ton
.
After eleven o'clock, the market rose 100 yuan / ton to 49600 yuan / ton line, because the price difference in the next month is still 80 yuan / ton, the market quotation remains unchanged, but the transaction is not as good as the morning market, traders are willing to receive the goods cooled
.
Intraday trading is dominated by trade speculators, the premium is aimed at the change of the price spread in the next month, and the guidance of the change in the price spread is paid attention to in the later stage, and traders still have some room for expectations for the premium before delivery
.
On the news, the Asian market dollar index fluctuated widely, now trading around 95.
953, the results of the US midterm elections: Democrats recaptured the House of Representatives, Republicans retained the Senate
.
In terms of industry, China Minmetals Corporation and Poland Copper Group Corporation signed a five-year long-term procurement contract for electrolytic copper with a total amount of about 27 billion yuan at the first China International Import Expo on the 6th
.
Intraday Shanghai copper shock is weak, affected by the US mid-term elections, the market wait-and-see sentiment is stronger, in the spot market, downstream taking advantage of low procurement, the overall transaction is better than the previous day, and holders in the trend of rising premiums, there is a reluctance to sell, not in a hurry to ship
.
On the technical side, the futures price remains volatile in the moving average combination, and there is still a divergence between the current market bulls and bears, and it is expected that the short-term Shanghai copper will still maintain a volatile pattern
.
