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Copper market review, Tuesday morning Shanghai copper main 1905 contract opened at 49170 yuan / ton, after the opening of the copper price center of gravity quickly rose to around 49230 yuan / ton, in the 49210-49250 yuan / ton range after the shock, copper prices continue to probe higher, in the short-term touch high 49300 yuan / ton, affected by the external market, bulls closed sentiment gradually strengthened, copper prices quickly fell to 49160 yuan / , the afternoon gradually showed a low recovery, in the afternoon copper prices around the daily moving average slowly oscillated, again tried to test 49370 yuan / , but still failed to maintain stability at a high level, fell back at the end of the session, closing at 49270 yuan / ton, down 20 yuan / ton, down 0.
04%.
South Reserve East China: The average price of electrolytic copper was 49180 yuan, down 50, and the price of the month's rise: -10 to 100, up 30
.
The market fell back to attract downstream active receipts, holders shipped at high prices, good copper supplies were tight and the premium rose rapidly, flat water copper was favored by buyers, the market trading atmosphere warmed up, and the transaction performance was better than the previous day
.
At the close, the premium copper premium to the futures contract of the month was 90-110 yuan, up 30 yuan from the previous day; flat water copper premium 0-10 yuan, up 20; Wet copper discount 80-90 yuan, down 5
.
South China Reserve: The average price of electrolytic copper was 49140 yuan, down 70, and the monthly premium quotation: -10 to 20, up 15
.
Copper prices fell slightly, the market inquiry atmosphere remained active, and shippers continued to open
higher.
In the morning, flat water copper reported +0 yuan / ton, good copper reported +20 yuan / ton, basically up about 20 yuan / ton from yesterday, the receiver hesitated to wait and see, the transaction was deadlocked
.
After some shippers began to lower prices, the transaction improved, and the mainstream of flat water copper was traded at -10 yuan / ton, a small amount of -20 yuan / ton was traded, and good copper was +20 / ton sold
.
Large traders do not ship much, the source of goods circulating on the market is limited, and the downstream purchase willingness is better, after the low-price source of goods is out at about ten o'clock, there are still more traders who inquire and receive the goods, resulting in the shipper raising the quotation or reluctant to sell, the flat water copper quotation also turned to flat water or premium water, but the receiver still wants to receive the goods at a discount, and the acceptance of the source of premium water is low
.
Overall, downstream consumption picked up, while the supply of large households was not much, and the low-price transaction was smooth, supporting the strengthening of spot premiums
.
The Shanghai copper closing body elongated the lower shadow during the day, and the lower 20 and 40-day moving averages, the MACD indicator double line formed an adhesion upward pattern, showing a positive signal
.
Wait for the guidance of the external disk to test whether the main force of Shanghai copper can break through the 49,300 yuan / ton position
.