Copper continued weak turbulence, spot trading enthusiasm
Metal dynamic: company freeport-mcmoran (
A spokesman said on Tuesday, the company has not yet received notification about the Indonesia copper export license extension, export license expires on Monday, but the government is expected to release new licensing soon.
freeport daily production of about 220000 tons of copper ore, if the government did not approve quickly license extension, the company will face the interrupt its giant which copper shipments.
freeport spokesman Riza Pratama said: & other;
We will soon give to the government export license is optimistic.
the futures market overview: LME3 month copper shock down today.
Morning opened at $4799, a slight concussion after peaking at $4810 as weak shocks, plunge in late fall, and hitting a low $4770, domestic trading period closing at 4775 dollars.
Today Shanghai copper main 1610 month decline in shock.
Morning in early unilateral fell from the peak, keep disadvantaged concussion, plunge in late fall and hit rock bottom, finally closing at 37220 yuan, down 290 yuan, or 0.
77%, 18640 to 250054 hand more holdings.
Spot market overview:
Shanghai trading center (metal extraction solution today
The original WuMao colored spot market)
, the spot copper main clinch a deal in 37210 - in the morning
37400 yuan/ton, is falling on a weekday, 240, in the c60 - liter discount
B130 yuan, falling on a weekday 30 yuan.
Well today market supply, good copper supply increases, thus good copper premium fell sharply, traders shipment is given priority to, smelter small shipment, brand in the majority with cooper, etc.
Downstream manufacturers with the weakening of copper on dips purchase, purchase quantity relatively recently improved, but still is given priority to with on demand.
Good afternoon liter discount is slightly lower in the morning, in the b100 - copper
B110 yuan, smooth water copper b00 -
The b20 yuan, wet the c70 - copper
Extract solution according to Shanghai metal trading center survey, most traders fall view, a small number of traders take shock view.
center point: in July China import and export data table line is weak, which imports fell by 12.
5%, exports fell by 4.
4%, both weaker than expected, or predict overall weak economic data in July.
As the U. S. non-farm data of big good, the dollar index rising, and the crude oil rose also repeatedly, or because of market forecast OPEC crude oil leak problem will be discussed.
Spot, with copper and two litres of water drop, the downstream procurement slightly warmer, warming spot market trading enthusiasm.
Technical, next day K line in among rail track, between 40 - day moving average support, MACD and weaker KDJ indicators have both, the short-term is expected to maintain a weak shock, interval 36800 -