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Shanghai Copper Is Slightly Defensive In The Short Term Or Will Continue To Oscillate
Apr 24, 2018

Biadi, as a cable manufacturer, is not only dedicated to high-quality cable production but also pay attention to the development of the raw materials market like copper. As we all know that the copper price changes in different ranges. The following information is for your reference.

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The Shanghai copper index was pulled back to 50,310 yuan at the beginning of the week. Since then, the price has risen steadily. The price has risen to 52,520 yuan. After a sharp jump, it has opened lower and weakened on Friday. This week it finally closed at 51,670 yuan, up 920 yuan, an increase of 1.81%, the index weekly positions decreased 31600 to 810,000 hands.


On the external market, the LME copper price shock at the beginning of March which began to rise after falling to 6782.5 US dollars. It once again rose sharply to 7,112 US dollars in the middle of the week and then fell again. The closing draft closed at 6,973 US dollars and gained 139.5 US dollars, or 2.04%, during the week.


In the market, the main trading range of copper prices in the Shanghai Nonferrous Metals Trading Center this week was around 50320-51850 yuan/ton, and the current overall premium range was at b160-b330 yuan/ton. The spot copper price rose sharply this week. Affected by the downward adjustment of value-added tax next month, the copper price was fully transferred to the high-risk water. Due to long-term delivery at the beginning of the week, prices rose after the price surged in the week, and the willingness to receive goods fell. The price of premium was still high on Friday morning when the copper price was low. However, the shipment of the carrier was sluggish. After the downward adjustment, the offer was slightly improved. The market was trading at a low level before the weekend and the overall market was generally trading.


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