推薦產(chǎn)品
3-(4-chlorophenyl)-4-phenyl-4,5-dihydro-1H-pyrazole 2-(chloromethyl)-3-methylpyridinehydrochloride 1-(2-bromo-4-methylphenyl)ethanone 3-chloroisoquinoline-4-carbonitrile 5,8-dichloropyrido[3,2-d]pyridazine 2-bromomalononitrile 2-(4-(bromomethyl)phenyl)benzo[d]thiazole 1-(bromomethyl)-3-methoxy-2-nitrobenzene 6-bromo-1H-[1,2,3]triazolo[4,5-b]pyridine 4-iodo-2-((trimethylsilyloxy)methyl)thiazole 6-iodoimidazo[1,2-a]pyridine-3-carbonitrile 2-(4-chlorophenyl)-2-morpholinoacetonitrile 4-chloro-7H-pyrrolo[2,3-d]pyrimidine 4-chloroisothiazole 5-bromo-6-chloro-1H-indole 7-chloro-3H-imidazo[4,5-b]pyridine ethyl3-(4-formylphenyl)propanoate 2,3-dibromobenzaldehyde 1-(5H-chromeno[2,3-b]pyridin-7-yl)ethanone 5H-chromeno[2,3-b]pyridin-5-one 3-chloroisoquinoline-4-carbaldehyde (E)-2-(3-oxoprop-1-enyl)benzaldehyde methyl4-formyl-3-nitrobenzoate 5,6-dimethoxy-2,2-dimethyl-2,3-dihydro-1H-inden-1-one 1-methylbicyclo[4.1.0]heptan-3-one 3-nitro-4-(trifluoromethoxy)benzaldehyde 2-hydroxyquinoline-6-carbaldehyde 2-nitro-3-(trifluoromethyl)benzaldehyde 1-(2-fluoro-4-methoxyphenyl)propan-2-one tert-butyl3-fluoro-4-oxopiperidine-1-carboxylate tert-butyl3-oxopropylcarbamate 2,2-dimethylcyclohexanone 9H-carbazole-3-carbaldehyde N,N-dimethyl-2-oxoacetamide 2-methylpent-4-yn-2-ol 3-tert-butyl-4-hydroxybenzonitrile 4-bromo-2-tert-butylphenol 1,3-dibutoxypropan-2-ol methyl4-hydroxyquinoline-6-carboxylate methyl3-cyano-4-hydroxybenzoate 4-chloro-6-methoxyquinolin-7-ol 3,4-dihydro-2H-benzo[b][1,4]oxazin-7-ol 2-(2-aminothiazol-5-yl)ethanolhydrochloride (R)-ethyl2-chloropropanoate (S)-4-amino-5-(4,4-dimethylcyclohexylamino)-5-oxopentanoicacid (1s,4s)-4-hydroxycyclohexanecarboxylicacid (S)-2-(tetrahydrofuran-3-yloxy)aceticacid (1S,4R)-1-methyl-4-(prop-1-en-2-yl)cyclohex-2-enol (R)-4-(hydroxymethyl)oxazolidin-2-one (S)-4-(hydroxymethyl)oxazolidin-2-one 化工資訊 量價：21日，滬銅高開低收，主力合約收于47020元/噸，漲0.66%。滬銅所有合約較上一交易日成交量增8.5萬手至31.6萬手，持倉量減2.4萬手至54.8萬手。其中，主力合約CU1912前20名買單持倉量減4410手至6.4萬手，前20名賣單持倉量減838手至8.1萬手。
庫存?zhèn)}單：21日，LME庫存減200噸至26.8萬噸，LME注銷倉單占比33%，較上一日繼續(xù)上升。SHFE銅倉單較上一日減1327噸至6.2萬噸。目前，LME延續(xù)去庫，SHFE具有累庫壓力。
現(xiàn)貨方面：21日，洋山銅倉單溢價81美元/噸，較上一日降1美元/噸。而上日，LME現(xiàn)貨升貼水為-30美元/噸，滬倫比下降，進(jìn)口虧損。21日上海電解銅現(xiàn)貨對近月合約報價升水80~升水110元/噸，較昨日有所上調(diào)。整體而言市場成交一般，盤面上漲而下游多顯謹(jǐn)慎駐足，但持貨商對當(dāng)月票的挺價意愿暫未改變。
觀點：近日，中國銅原料聯(lián)合談判組(CSPT)敲定4季度銅精礦TC66美元/噸，較3季度的55美元/噸增長20%。而目前，銅精礦標(biāo)準(zhǔn)干凈礦TC主流成交在58.5美元/噸左右(均價)，自9月下旬開始觸底反彈，原料供給緊張局面或有所緩和。雖近日南美礦區(qū)罷工風(fēng)波再起，但根據(jù)以往經(jīng)驗，預(yù)估影響有限。9月未鍛軋銅及銅材進(jìn)口量延續(xù)下滑，進(jìn)口銅礦砂及銅精礦同比超預(yù)期降18.1%。下游開工率方面，9月銅管企業(yè)開工率超預(yù)期同比回升6.11個百分比，各銅材開工率均環(huán)比增加，反映下游需求存在邊際改善。且終端數(shù)據(jù)看，9月房地產(chǎn)銷售面積和竣工面積、汽車產(chǎn)銷同比降幅縮窄，空調(diào)產(chǎn)量同比大增。而電網(wǎng)領(lǐng)域電源投資和電網(wǎng)投資增速差仍然存在需求的未兌現(xiàn)預(yù)期。整體而言，銅價維持低位偏多的觀點。
策略：1.單邊：中性；2.跨市：若進(jìn)口盈利開啟可正套；3.跨期：暫無；4.期權(quán)：暫無
關(guān)注及風(fēng)險點：
1.經(jīng)濟(jì)下行拖累需求；2.電網(wǎng)投資不及預(yù)期；3.宏觀風(fēng)險
