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On Thursday, the main 1805 contract of Shanghai copper opened at 52250 yuan / ton, after the opening a small number of long positions increased the entry, copper prices rose slightly, and then around 52350 yuan / ton around a narrow range, intraday high to 52400 yuan / ton, after the afternoon open, the short rate advanced the market, copper prices down, there is still support at the daily moving average, but then the bulls reduced their positions a lot, copper prices accelerated to sink, probed down to 51950 yuan / ton, the end of the day slightly revised, finally closed at 52020 yuan / ton, down 660 yuan
。
In terms of external trading, London copper opened at 6944.
5 US dollars / ton, after the opening of London copper's center of gravity slowly moved up, high to 6952.
5 US dollars / ton, and then fell slightly back to 6941 US dollars / ton around the shock operation, in the afternoon, as the bulls sharply reduced their positions and left the market, London copper accelerated down, to 6896 US dollars / ton after the low level to rise, after the daily average test failed, London copper fell again, into the European session, the dollar rose strongly, London copper was pressed down, directly touched the low of 6835 US dollars / ton, as of 17 :18, London copper reported $6841/ton, down $100/ton
.
During the day, the center of gravity of London copper moved down, falling below the $6,900 / ton integer mark, and it is expected that in the short term, it will be around the $6,900 integer mark to make a slight correction
.
In terms of the market, Shanghai copper returned to the average below the various routes, fundamentally, the current downstream receiving enthusiasm has not been significantly improved, on the one hand, downstream enterprises are still consuming raw material inventory, on the other hand, financial pressure is greater, inhibiting the willingness to purchase, so it is expected that Shanghai copper will maintain a weak shock trend
in the short term.
During the day, Shanghai electrolytic copper spot contracts reported a discount of 130 yuan / ton - 70 yuan / ton, flat water copper trading price of 51700 yuan / ton - 51760 yuan / ton, and premium copper trading price of 51720 yuan / ton - 51800 yuan / ton
.
In terms of industry, the latest customs data shows that China's cumulative imports of copper ore and its concentrate from January to February this year were 3.
074 million tons, an increase of 14.
6% year-on-year, slightly higher than the 13.
1% year-on-year growth rate of unwrought copper and copper in the same period.
The commodity market ushered in a sharp decline during the day, the unsatisfactory resumption of work after the Spring Festival made the commodity generally fall sharply, copper prices were affected by this and weakened sharply, the market bearish sentiment has not yet been released, the global market sensitive events have occurred frequently in recent days, affected by the US import tariff plan, copper prices or maintain a wide range of shock operation
.
From the perspective of futures, the main MACD dead cross and KDJ dead cross of Shanghai copper were temporarily supported by 52,000 yuan, and the short-term price may be repeated
.
