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China's demand will remain strong, Shanghai copper is expected to rise strongly
2019-02-27
Shanghai copper night continued to rise, Shanghai copper daily line form to maintain a strong rise,Information surface U.S. stocks rose slightly, the outer disk crude oil rose slightly, the U.S. index correction. China released better-than-expected new loan data for January, suggesting that demand in China will remain strong. India's Supreme Court has blocked the start of Vedanta's copper smelter. Indonesia Freeport copper concentrate export license expires. The United States and China held a new round of talks in Washington on Tuesday with more optimistic expectations.Copper inventories on the three major exchanges are low. Len copper stocks 139400 tons,-775, continue to near 05 lows. As of February 15, the stock of Shanghai Stock Exchange was 207118 tons and 64391 tons, up sharply. 19 Yangshan Copper Premium (Bill of Lading) 55-72; average price 63.50(0).On the 19th, the domestic in stock market price: Yangtze River 48990-49090; Guangdong 48850-49050; Shanghai Nonferrous Network 48860-49080, with an average price of 48970( 510). Lift water paste 180-paste 50 average price paste 115(-20).The in stock market has a strong festive atmosphere, with a large increase in the disk surface and a continuous suppression of buying. The early market quotation is 150~50 yuan/ton, and the transaction is mostly wait-and-see. Some traders voluntarily lowered the quotation in order to exchange the cash. The flat copper adjustment was reduced to about 180~170 yuan/ton, and the transaction improved. The good copper adjustment was reduced to 80~70 yuan/ton to attract some traders to buy, while the downstream receiving the goods was weak, the transaction has been suppressed, wet copper quotes as low as 320 yuan/ton.
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