Copper prices are still down, rare earth prices weak

March 11 news : As of today 's close, down 1.05% copper still substantial , dropping to an intraday low of 45,330 yuan / ton. Shanghai aluminum , Shanghai lead , zinc and Shanghai were closed up 0.8% , 1.94% , 0.98 %.

Shanghai copper spot today reported premium 160 yuan / ton to discount 20 yuan / ton , flat water, copper traded price 45680-46200 yuan / ton, premium copper transaction price 45740-46300 yuan / ton. Shanghai copper gradually stabilized stabilized , increasing the outflow of speculative trading continues , is an abundant supply of copper to maintain premium status yesterday , morning Inquiry actively market turnover improved water level difference between the good copper and copper expanded to around 100 yuan / ton , flat water, copper and wet copper brand favored . After entering the second trading session , copper rebounded nearly 300 yuan / ton , especially in far month contract with the month spread widened to 100 yuan / ton, so hold stocks very price , brokers bought and thrown on , were active downstream dips pick-up initiative and enthusiasm increased significantly, overall trading activity improved. 45000-46000 yuan / ton in the vicinity , either downstream or middlemen bargain hunting confidence and strength enhancement.

Rare earth prices continuing weakness , weak downstream phosphor market, making a slight decline in the price of europium oxide , the mainstream transaction prices dropped to 4200-4400 yuan / kg , Low to 4,100 yuan / kg , other metal oxides and temporarily to steady the main .

Industries. Wall Street knowledge that the Chinese economic slowdown , devaluation brought arbitrage space narrowing , default risk in credit markets surge on bearish fundamentals , etc. , is not optimistic about the future trend in copper prices . Not only that , from the technical side the graphics point of view, copper is a bear walking in a wave of large cliff .

Currently the price of copper is in the vicinity of a period of up to three years taken off the edge of the triangle consolidation , high triangular shape of the continuous downward , while lows remain unchanged , which indicates that the shape is more inclined to a decline in the relay , the next afternoon break may sex bigger.


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