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Copper market review, Thursday morning Shanghai copper main 1906 contract opened at 49650 yuan / ton, soon after the opening copper price tried to test higher, but rushed up to 49670 yuan / ton after obviously showing insufficient momentum, then bulls continued to reduce positions, copper prices maintained a slow oscillation downward trend, until the end of the session gave up all overnight gap gains, tested down 49480 yuan / ton, closed at 49500 yuan / ton, down 40 yuan / ton, down 0.
08%.
South Reserve East China: The average price of electrolytic copper was 49570 yuan, down 40, and the monthly discount quotation: 20 to 120, down 10
.
After two consecutive days of hot trading, trading in the Shanghai spot market showed signs of
falling.
The morning opening price only continued the previous day's level and did not continue to rise; But even so, the receiver is still more cautious and the willingness to receive the goods is not high; Holders can only improve their transactions by lowering their
quotations.
In particular, good copper, affected by the significant increase in shipments, the premium of good copper fell significantly; Wet copper, on the other hand, is relatively weak due to its shortage of stock
.
Overall, trading is not as good as the previous day
.
South China Reserve: The average price of electrolytic copper in the month rose discount: 100 to 120, up 40
.
Shippers' price sentiment is still prominent, and the morning reported flat water copper open at +120 yuan / ton, good copper +140 yuan / ton or so, but traders are cautious and difficult to trade
.
Soon after, the shipper took the initiative to lower the flat water copper premium to +90, +100 yuan / ton, and began to trade, while good copper due to the inflow of warehouse receipts, the overall supply is relatively loose, the mainstream transaction is about
+110, +120 yuan / ton.
Overall, the enthusiasm of shippers has increased, the supply of goods has increased, but traders are afraid of high willingness to receive goods, and downstream consumption is general, trading is not smooth, and the transaction performance is not as good as the previous day
.
During the day, the main force of Shanghai copper closed negative solid column lengthened, KDJ indicator opening turned downward again, and the German manufacturing PMI data released weak performance in the afternoon, and the upward pressure on copper prices is expected to increase
.
Wait for the guidance of the external market to test whether the main force of Shanghai copper can hold the position
of 49,500 yuan / ton.
