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Copper spot trading review

  • Author:Himake Admin
  • Source:SMM
  • Release on :2016-11-15

SMM11 15th: 

      CopperToday, opened at $5560.5/tons of copper, metal, Asia times, led largely by increased copper bulls are tentative positions, copper prices rising rapidly to $5674/ton, but as black fell, surrounding iron ore, pipe down, depress market sentiment, stimulating a wave of bullish profit flows,The price of copperPlunging sharply, near focus down to 5590 dollars/ton consolidation, Bulls retreated sharply in the afternoon, 5th averages the fall of copper lines plunging rapidly, low recorded 5360 dollars/ton, into Europe, LME Copper stockpiles of 4100 tons, market sentiment over copper prices rallied, as 17:10, $5444/tons of copper, crude oil at $44.29 a barrel. Beauty 99.676, recent market long on warm and gentle,CopperSpeed up the callback, night concerns United States November New York Fed manufacturing index, retail sales and other data, the expected value is better than the former value, expected the dollar remains strong suppression of copper prices, copper or continued in the evening callbacks, near 10th averages $5280/ton below may be concerned about supporting.

    Today,RenminbiContinues to devaluation, minimum hit 6.8724, Shanghai copper main 1701 contracts open Yu 45150 Yuan/tons, opened Hou bulls increased warehouse influx, pulled copper price to 46150 Yuan/tons, but with black Department plunged, Bulls flat warehouse temporarily avoidance edge, copper price immediately fell, inspired a wave bulls stops disc outflow, copper price smooth discharged, way exploration low to 43060 Yuan/tons, received Yu 43670 Yuan/tons, fell 1850 Yuan/tons, decreases 4.06%, lighten up 6738 hand to 243,000 hand, Reduce turnover by 492,000 to 828,000. Copper 1611 contract today is the last trading day, current month price at 43280 Yuan/ton, settling 45360 Yuan/ton, delivery of 12550 tons, 1611 contract offer shippers as bid-ask spread, many wait for pending transactions. Copper broke down today and dipped below 5-day moving average, long profit accumulation to concentrate flows, estimated late last callback trend, the next support level to 10th averages 41893 Yuan/ton.

    Today morning ShanghaiElectrolytic copperSpot on 1611 contract posted waters 60 Yuan/ton-premium 60 Yuan/ton, Pingshui copper prices 45400 Yuan/ton-46000 RMB/ton, premium copper prices 45430 Yuan/ton 46050 Yuan/ton. Shanghai period copper days wide fluctuations, month last day, holding goods business still more on 1612 contracts quotes, and for contracts between base poor more yesterday received narrow, but still rendering pour base poor state, holding goods business on disc surface active adjustable drop rose water to sold, now copper rose water way received narrow, morning reported rose water 50 Yuan/tons above, near second trading period now copper rose water has fell to flat water-rose water 50 Yuan/tons, 1611 contracts and 1612 contracts price poor still maintained in 50 Yuan/tons around, but afternoon city closed early copper fast fell, Bimonthly basis widened again to above 200 tons, and contract bid-ask spread in the month reached 400-600 Yuan/ton, the speculators were inoperable, and raw materials most of the wait-and-see, more subdued market, supply exceeds demand is obvious. Afternoon still month contracts of sale price poor highest value can up 800 Yuan/tons, and market keep on 1612 quotes, and afternoon, and the grade between copper price poor received narrow, and flat water copper reported posted water 30 yuan/tons-posted water 20 Yuan/tons, and rose water copper reported rose water 20 Yuan/tons-rose water 30 yuan/tons, and sold price in 44000 Yuan/tons-44750 Yuan/tons, and sold still to match, and market more, tomorrow for months Hou operation.

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Editing Note:

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