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Review: Chinese copper imports in March domestic oversupply situation or worse

by:Deyuan      2020-12-23
Copper market analysis, the international market a

the recent U. S. economic data mixed that makes the market for the first quarter economic growth has raised concerns about the fed's recent interest rate increase expectations, traded at wide range, but the overall trend is still weak, copper moves follow the dollar volatility, today copper shock upside, afternoon high rushed back, by the Beijing time 16:00, London metals ( LME) Copper latest offer $4996, up $24.


2, domestic futures in Shanghai today leave high to go high, the current month 1605 contracts opened 37400 high low settlement 37680 37280 38090, or 37990 yuan/ton, compared with the previous one day rose 670 yuan/ton, up to 1. 8%; Positions, clinch a deal today Shanghai copper all contract 1056332, 6368 to 705640 hand more holdings. Main contract deal 595434 hands, holdings to reduce 25906 to 242330 hands. Copper metal market bullish sentiment today, Shanghai morning oscillation after opening higher, with the current contract closed at 67990 yuan record nearly a month, on the whole the copper market overall positive, expected short-term there is still room up.


3, the spot market on April 21, according to statistics the spot 1 # copper 37410 - quotation 37430 yuan/ton, compared with the previous trading rose 80 yuan/ton, discount discount from 140 to 120 yuan/ton; Shanghai spot 1 # electrolytic copper to 37460 yuan/ton, the last trading day rose 190 yuan/ton, smooth water copper clinch a deal the price rose 200, 37450 litres of 37470 copper price rise 190; Guangdong spot 37350-1 # copper prices 37550 yuan/ton, compared with the previous trading day up to 50 yuan/ton; Huatong spot 37435-1 # copper prices 37455 yuan/ton, compared with the previous trading day up 80 yuan/ton; The latest copper imports rose again in March, worries over imported fuel domestic oversupply situation, today's spot copper prices edged up, weak downstream demand.

related to watch
according to data released Thursday by the General Administration of Customs, China's refined copper imports in March of 458068 tons, year-on-year surge in 49. 4%. Data and shows that China's aluminium imports fell in March 68. By 6% to 3338 tons. March refined nickel import year-on-year surge in 648. 5% to 43220 tons; Refined zinc import year-on-year increase of 88. 3% to 76998 tons.
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