First, market description
On Wednesday evening, the closing price of the copper reached a record high of 9,685 U.S. dollars, with the highest figure of 9710 and the lowest figure of 9,508, up 1.73%; Lonnium rose 0.52%, the highest figure was 2521, and the lowest figure was 2,487 points, closing at 2,504 U.S. dollars. LME copper stocks increased by 1350 to 379,650 tons, aluminum stocks increased by 24,200 to 4,393,700 tons, and the US dollar retreated to around 80 points. Yesterday Shanghai copper opened higher but then traded in a narrow range. The trading volume was inactive throughout the day. The main contract of the 1104 contract was 71,830, the lowest was 71,150, and it was 71,150, up 1.01%. The Shanghai aluminum 1104 contract was the highest at 17120, the lowest was 16990, and it closed at 17030, up 0.15%. . The spot market price in Shanghai rose by 800 to 70,400 and aluminum rose by 40 to 16,650.
Second, market analysis
Yesterday, the renminbi exchange rate against the US dollar was reported at 6.6128, setting a new high since the exchange reform. European and American stock markets oscillated higher and higher on Tuesday, improving the market's risk appetite to some extent. Against this background, the dollar of the international exchange market fell slightly, the central parity of the yuan against the US dollar continued to rise, and rewrite the record since the exchange reform. The pattern of external strength and weakness of copper and aluminum and other commodities is also an important reason for the relatively small increase in Shanghai copper's external disk prices.
According to the announcement, on Tuesday, the central bank issued a one-year central bank bill of one billion yuan, issuing an interest rate of 11 basis points to 2.7221%, and a simultaneous 60 billion yuan of four-day repurchase operations with a bid rate of 2.05%. The 14-day repurchase was staged before 2008. The latest operation was in February 2008. The 14-day repurchase will help move the current richer funds to the holiday before the Spring Festival. It can temporarily recoup the liquidity that has matured in the near future, and provide funds for the preparation of the pre-holiday bank. The introduction of this measure has reduced the market's expectation of the central bank's re-adjustment rate before the Spring Festival. The Zambian KCM copper mine said Tuesday that the company plans to build two copper concentrators that will increase the company’s monthly copper production by 1,000-1,500 tons from current levels. In order to increase copper production to 400,000 tons/year in 2012.
Spot market:
Copper: The spot price of Shanghai electrolytic copper surpasses 150 discounts to 300 yuan/ton, the price of flat water copper is 70250 to 70350 yuan/ton, and the price of premium copper is 70350 to 70500 yuan/ton. As the contract for the current month jumps, the copper price will be discounted. 150 ~ 170 yuan / ton, downstream processing companies to take delivery of goods, cargo holders shipping is not smooth, some traders offer a good copper discount slightly extended to discount 180 ~ 200 yuan / ton, facing delivery next week, there is arbitrage Transactions, but because the funds are still tight, the overall market volume is not.
Aluminum: Shanghai aluminum spot transaction price 16640-16670 yuan / ton, Pingshui - premium 40, low iron and aluminum 16740-16760 yuan / ton, Wuxi spot transaction price 16650-16690 yuan / ton. Shanghai Aluminum finished lower and aluminum prices increased. However, the transaction focus was slightly adjusted. The downstream aluminum processing companies are obviously waiting to see the market, the chase is limited, and the overall market conditions are generally low.
Third, the operation of recommendations
The closing price of London Copper hit another record high last night. The strong momentum was unstoppable. The decline in the US dollar also encouraged it. The success of the Portuguese government bond auction eased the current market concerns about the euro zone. At the same time, LME copper cancelled the warehouse receipts and reached the highest point of 34,350 tons in half a year, boosting the copper market. At present, due to the continuous appreciation of the renminbi, Shanghai copper is weaker than ren copper, but if ren copper can effectively break through the previous high, it is not difficult for Shanghai copper to touch 73000 again. Operation, before holding more, pay attention to high pressure.
Overnight LME aluminum stocks increased significantly for the third consecutive day, making Lun aluminum gains weaker. The Shanghai Aluminum was still hovering near the support line of 17,000 yesterday. No substantive progress was made, but the measures of power cuts and domestic winters supported aluminum prices. Operationally, it is still recommended to continue to hold more than one early period.
On Wednesday evening, the closing price of the copper reached a record high of 9,685 U.S. dollars, with the highest figure of 9710 and the lowest figure of 9,508, up 1.73%; Lonnium rose 0.52%, the highest figure was 2521, and the lowest figure was 2,487 points, closing at 2,504 U.S. dollars. LME copper stocks increased by 1350 to 379,650 tons, aluminum stocks increased by 24,200 to 4,393,700 tons, and the US dollar retreated to around 80 points. Yesterday Shanghai copper opened higher but then traded in a narrow range. The trading volume was inactive throughout the day. The main contract of the 1104 contract was 71,830, the lowest was 71,150, and it was 71,150, up 1.01%. The Shanghai aluminum 1104 contract was the highest at 17120, the lowest was 16990, and it closed at 17030, up 0.15%. . The spot market price in Shanghai rose by 800 to 70,400 and aluminum rose by 40 to 16,650.
Second, market analysis
Yesterday, the renminbi exchange rate against the US dollar was reported at 6.6128, setting a new high since the exchange reform. European and American stock markets oscillated higher and higher on Tuesday, improving the market's risk appetite to some extent. Against this background, the dollar of the international exchange market fell slightly, the central parity of the yuan against the US dollar continued to rise, and rewrite the record since the exchange reform. The pattern of external strength and weakness of copper and aluminum and other commodities is also an important reason for the relatively small increase in Shanghai copper's external disk prices.
According to the announcement, on Tuesday, the central bank issued a one-year central bank bill of one billion yuan, issuing an interest rate of 11 basis points to 2.7221%, and a simultaneous 60 billion yuan of four-day repurchase operations with a bid rate of 2.05%. The 14-day repurchase was staged before 2008. The latest operation was in February 2008. The 14-day repurchase will help move the current richer funds to the holiday before the Spring Festival. It can temporarily recoup the liquidity that has matured in the near future, and provide funds for the preparation of the pre-holiday bank. The introduction of this measure has reduced the market's expectation of the central bank's re-adjustment rate before the Spring Festival. The Zambian KCM copper mine said Tuesday that the company plans to build two copper concentrators that will increase the company’s monthly copper production by 1,000-1,500 tons from current levels. In order to increase copper production to 400,000 tons/year in 2012.
Spot market:
Copper: The spot price of Shanghai electrolytic copper surpasses 150 discounts to 300 yuan/ton, the price of flat water copper is 70250 to 70350 yuan/ton, and the price of premium copper is 70350 to 70500 yuan/ton. As the contract for the current month jumps, the copper price will be discounted. 150 ~ 170 yuan / ton, downstream processing companies to take delivery of goods, cargo holders shipping is not smooth, some traders offer a good copper discount slightly extended to discount 180 ~ 200 yuan / ton, facing delivery next week, there is arbitrage Transactions, but because the funds are still tight, the overall market volume is not.
Aluminum: Shanghai aluminum spot transaction price 16640-16670 yuan / ton, Pingshui - premium 40, low iron and aluminum 16740-16760 yuan / ton, Wuxi spot transaction price 16650-16690 yuan / ton. Shanghai Aluminum finished lower and aluminum prices increased. However, the transaction focus was slightly adjusted. The downstream aluminum processing companies are obviously waiting to see the market, the chase is limited, and the overall market conditions are generally low.
Third, the operation of recommendations
The closing price of London Copper hit another record high last night. The strong momentum was unstoppable. The decline in the US dollar also encouraged it. The success of the Portuguese government bond auction eased the current market concerns about the euro zone. At the same time, LME copper cancelled the warehouse receipts and reached the highest point of 34,350 tons in half a year, boosting the copper market. At present, due to the continuous appreciation of the renminbi, Shanghai copper is weaker than ren copper, but if ren copper can effectively break through the previous high, it is not difficult for Shanghai copper to touch 73000 again. Operation, before holding more, pay attention to high pressure.
Overnight LME aluminum stocks increased significantly for the third consecutive day, making Lun aluminum gains weaker. The Shanghai Aluminum was still hovering near the support line of 17,000 yesterday. No substantive progress was made, but the measures of power cuts and domestic winters supported aluminum prices. Operationally, it is still recommended to continue to hold more than one early period.
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