Shanghai spot copper today reported at 67,900-68,150 yuan / ton, down 430 yuan / ton, discount 100 yuan / ton - premium 50 yuan / ton. In the fundamental environment of unfavorable export data from China and slowdown in European manufacturing industry, Lun Copper overnight ended its gains. Although China’s latest PMI data showed a preference, the market’s confidence in economic development was still insufficient. After the rebound space was exhausted, The London copper still needs a shock to wait for the dollar to weaken. In the morning session, Shanghai copper oscillated down, and the spot market traders reluctantly sold their goods to a certain extent. However, the pressure on the market for shipping is still too high, and many downstream users hope to make up for the lower position.
The Shanghai Metal Price Index (SHMETX) dropped by 145.62 points, or 0.47%, to 30704.41 points.
Shanghai Copper's main 1111 contract opened at 68200 yuan and closed at 67,830 yuan, or 580 yuan.
After the close of trading in the morning, a copper trader told the Shanghai Metals (SHMET) correspondent: “We reported today that premium copper was at RMB 20/t premium, and the minimum turnover was RMB 68,000/t. We are still shipping at this location. Although the price began to decline, but the downstream receiving goods is still small, more than 500 tons in the morning." Then SHMET learned from another trader: "Now everyone's attitude is still very cautious, short-term Sufficient supply of goods, more imported copper circulation, I feel that Shanghai copper still has some downside, at least it will enter the stage of shock adjustment, so we will not consider replenishment.â€
Al Wu Zhi Bao Shanghai spot domestic aluminum now reported at 17800-17840 yuan / ton, down 20 yuan / ton, premium 70-liter water 110 yuan / ton. The overnight correction of the economic outlook in the market led to a correction in the market. Although China’s manufacturing data stabilized, but export orders decreased, European manufacturing data remained weak. This led the market bears to find a reason to decline. With poor agricultural employment data, Lun Aluminum will further decline. Shanghai aluminum market fell slightly, the spot market supply pressure has not diminished, some traders have lowered the price of shipments, the weekend downstream manufacturers a small amount of make-up.
The Shanghai Metal Price Index (SHMETX) dropped by 145.62 points, or 0.47%, to 30704.41 points.
Shanghai Aluminum's main 1111 contract opened at 17,465 yuan and closed at 17,410 yuan, down 75 yuan.
A copper trader told the Shanghai Metals (SHMET) correspondent: “At the beginning of today, many merchants offered prices at around 17,850 yuan/ton, and we reported it at 17,810 yuan/ton. It doesn’t make much sense to report high prices. We have little goods. However, the downstream shipments are very few, mainly with traders trading more, the morning's goods are also out of the same.†And another spot trader and Shanghai Metals (SHMET) communication said: “Although the domestic aluminum price trend Weak, but the external disk has shown signs of turning stronger, and the recent domestic power shortage is more severe, the electrolytic aluminum production capacity will inevitably be affected, which is a support factor for aluminum prices, so the aluminum price decline is also limited.
The Shanghai Metal Price Index (SHMETX) dropped by 145.62 points, or 0.47%, to 30704.41 points.
Shanghai Copper's main 1111 contract opened at 68200 yuan and closed at 67,830 yuan, or 580 yuan.
After the close of trading in the morning, a copper trader told the Shanghai Metals (SHMET) correspondent: “We reported today that premium copper was at RMB 20/t premium, and the minimum turnover was RMB 68,000/t. We are still shipping at this location. Although the price began to decline, but the downstream receiving goods is still small, more than 500 tons in the morning." Then SHMET learned from another trader: "Now everyone's attitude is still very cautious, short-term Sufficient supply of goods, more imported copper circulation, I feel that Shanghai copper still has some downside, at least it will enter the stage of shock adjustment, so we will not consider replenishment.â€
Al Wu Zhi Bao Shanghai spot domestic aluminum now reported at 17800-17840 yuan / ton, down 20 yuan / ton, premium 70-liter water 110 yuan / ton. The overnight correction of the economic outlook in the market led to a correction in the market. Although China’s manufacturing data stabilized, but export orders decreased, European manufacturing data remained weak. This led the market bears to find a reason to decline. With poor agricultural employment data, Lun Aluminum will further decline. Shanghai aluminum market fell slightly, the spot market supply pressure has not diminished, some traders have lowered the price of shipments, the weekend downstream manufacturers a small amount of make-up.
The Shanghai Metal Price Index (SHMETX) dropped by 145.62 points, or 0.47%, to 30704.41 points.
Shanghai Aluminum's main 1111 contract opened at 17,465 yuan and closed at 17,410 yuan, down 75 yuan.
A copper trader told the Shanghai Metals (SHMET) correspondent: “At the beginning of today, many merchants offered prices at around 17,850 yuan/ton, and we reported it at 17,810 yuan/ton. It doesn’t make much sense to report high prices. We have little goods. However, the downstream shipments are very few, mainly with traders trading more, the morning's goods are also out of the same.†And another spot trader and Shanghai Metals (SHMET) communication said: “Although the domestic aluminum price trend Weak, but the external disk has shown signs of turning stronger, and the recent domestic power shortage is more severe, the electrolytic aluminum production capacity will inevitably be affected, which is a support factor for aluminum prices, so the aluminum price decline is also limited.
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