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London copper opened $150 higher in early trading, approaching the $6,000 mark, under pressure, and the rise was weak and volatile to the downside
.
Shanghai copper was affected by London copper, quickly opened up more than $300, Shanghai copper index rose to 40,300 yuan, touched the 5-day moving average, fell 200 yuan, closed above 48,000 yuan, strong support
.
Sino-US trade relations have a greater impact, there is no relevant news in the morning time, copper prices are relatively stable, this week's Sino-US trade talks will have a high probability of affecting the small and medium-term trend
of the copper market.
Shanghai copper continued to repair last week's decline, back to 48,000 yuan / ton above, the weekend to the market supply did not increase, inventory is still in a tight state, spot premium to raise the price is the willingness of the holder, morning market quotation flat water copper premium about 200 yuan / ton, good copper premium 240 yuan / ton, low-price sources favored by the market, is closed in seconds, active transactions
。 After ten o'clock, the holder continued to raise the quotation, the good copper quotation raised to 250 ~ 260 yuan / ton, flat water copper quotation premium 210 ~ 220 yuan / ton, it is difficult to find a low-price source, the replenishment volume into the market with the continuous rise of the premium and gradually cooling, and the downstream favors low-end imported low-price sources, such as Bulgaria, PASAR and other types of copper, the quotation is 180~190 yuan / ton in the premium, wet copper concentrated transaction in the premium 160~180 yuan / ton
。 Today's market transaction first rose and then declined, some imported copper arrived in Hong Kong over the weekend, but has not yet flowed into the market, the premium is high, but the proportion of good copper is small, so the quotation is firm, but traders have high hesitation, the second trading session, supply and demand deadlock pattern, because of the lack of confidence in whether the market can continue to recover, and whether the subsequent imported copper will continue to clear customs into the market, is not completely certain
.
Whether the premium can continue to be high and further promoted needs to pay attention to the subsequent arrival of imported copper and downstream consumption attitude
.
