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London copper opened below $6,000 early, plus the dollar rose, double pressure, falling as much as $
60 in early trading.
The trend of Shanghai copper is roughly in line with that of London copper, which quickly fell 200 yuan at the beginning under the influence of London copper, touched the 48,000 yuan mark during the session, and rebounded slightly by 100 yuan
.
In terms of fundamentals, spot copper premium declined, Sino-US trade situation is not optimistic, copper market confidence is not large
.
It is expected that London copper will also test down in the day, and Shanghai copper will test the 48,000 yuan mark support
again.
Shanghai copper falls, the market for the next month ticket source quotation increased, the morning market of the holder will report the monthly ticket premium of 110 ~ 150 yuan / ton, traders have to reduce the price, space is sufficient, the holder of the initiative to adjust the price to seek the transaction, good copper quotation premium of about 130 yuan / ton, next month ticket good copper premium 120 yuan / ton nearby, flat water copper next month pass quotation premium 80 ~ 90 yuan / ton
.
Entering the second trading session, the holders suspended the price adjustment, the quotation remained stable, some downstream bargain-hunting entered the market to replenish, the wet copper quotation was 30~40 yuan / ton in the premium, and the flat water ~ premium of the next month's ticket was 10 yuan / ton
.
Today, reflecting the characteristics of futures and spot declines, imported copper imports have increased, market supply is abundant, and the premium has fallen rapidly
under oversupply.
However, wet copper is already at flat water levels, and holders are still cautious
about discounted quotations.
