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Copper market review, Wednesday morning Shanghai copper main 1906 contract opened at 49450 yuan / ton, opened low 49440 yuan / ton, followed by the opening of the external market, performance shock pulled, afternoon in the short-term high of 49620 yuan / ton after a pullback, the center of gravity down to the daily average of 49500 yuan / ton, the afternoon external market again force, bulls actively entered the market, copper prices rose again, at 49600 yuan / ton position stopped, after the shock consolidation, the end of the session continued to rise, high 49700 yuan / ton after the performance fell back, It closed at 49510 yuan / ton, up 90 yuan / ton, or 0.
18%.
South Reserve East China: The average price of electrolytic copper was 49,610 yuan, up 260, and the monthly premium quotation: 30 to 130, up 60
.
After the opening, the market continued to rise in price, and the enthusiasm of the receivers was also good, and the overall transaction atmosphere was still very good
.
However, after continuous price increases, some downstream began to have a wait-and-see mood, and the enthusiasm for receiving goods was not as good as the previous day
.
The premium copper pair for the month was 120-130 yuan, up 60 yuan from the previous day; flat water copper discount 30-40 yuan, up 70 yuan; Wet copper discount 40-50 yuan, up 80
.
South China Reserve: The average price of electrolytic copper was 49,600 yuan, up 260, and the monthly discount quotation: 60 to 80, up 60
.
The market continued to receive positive goods, and the shippers pulled up the premium shipments, and the mainstream flat water copper reported +50 yuan / ton in the morning, and the good copper reported +70 yuan / ton, and the transaction was better
.
After ten o'clock, the shipper continued to raise the flat water copper premium to +60, +70 yuan / ton, good copper +90, +100 yuan / ton or so, traders accepted the high price generally, a slight stalemate
.
In general, the reluctance of large households to sell leads to tight spot circulation, traders are generally bullish, and at the same time need to deliver long orders, taking advantage of the low market to grab low-priced sources, trading performance is better mainly among traders, downstream consumption is general
.
The main closing body of Shanghai copper during the day lengthened the upper shadow, and the bottom was supported by the 5-day and 40-day moving averages below, and the KDJ indicator J line turned upward
.
Wait for the guidance of the external market to test whether the main force of Shanghai copper can break through the 49,700 yuan / ton position
upward.
