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On Friday, the Shanghai copper 1905 contract opened at 49110 yuan / ton in the morning, opening at 49140 yuan / ton, and then, due to the influence of the external market, the bears actively entered the market, copper prices performed shocked downward, the center of gravity hovered around 49070 yuan / ton for a period of time and continued to move down, before noon to test 48930 yuan / ton
.
In the afternoon, the center of gravity of copper prices rose slightly, when the overall still maintained a shock pattern, the afternoon basically fluctuated in the range of 48940-49040 yuan / ton, and the amplitude gradually narrowed, closing at 48940 yuan / ton, down 380 yuan / ton, down 0.
77%.
In terms of external trading, Asian market, London copper opened at 6443.
5 US dollars / ton, the center of gravity slowly downward after the opening, after testing the low of 6420 US dollars / ton before noon, because the US dollar remained stable around 96.
3, it fell back in the afternoon, copper prices slowly rose, until the European market, after the initial test of 6446.
5 US dollars / ton, because the subsequent release of French and German PMI data performance was unsatisfactory, the euro performance plummeted, making the market risk aversion sudden, the US dollar rose rapidly, copper prices fell rapidly 17:00, London copper reported $6387/mt
.
In the market, the US dollar rebounded to around 96.
3, London copper fell sharply, Shanghai copper fell below 49,000 yuan / ton, copper prices fell to attract some downstream to buy the market, and the willingness of holders to control goods and raise prices was further enhanced
。 In the morning market, the good copper premium 1200 yuan / ton, flat water copper from 950 yuan / ton began to quote, the high favor for flat water copper made its premium quickly raised to 970 ~ 980 yuan / ton, the source of low-priced flat water copper was quickly traded, the morning market received enthusiastically, the buying interest increased, the holder raised the price at the premium 970 ~ premium 990 yuan / ton, there is almost no room for price pressure, the good copper buying interest is weak, the quotation is lowered to 1130 ~ 1150 yuan / ton
.
During the day, downstream buying increased, traders also performed actively to complete the delivery of long orders, market transactions were significantly active, and falling holders followed the trend to push up the premium
.
If the delivery of the long order is completed next week, or the quotation of the April invoice will appear one after another, the transaction may show a trend of first rising and then suppressing, and the room for premium and then rise is limited
.
In the afternoon, the price remained stable, the market quotation also remained deadlocked, and the downstream in the morning has basically ended the replenishment of the weekend, so the activity of the afternoon transaction has fallen slightly, but the low-priced source is still favored by the market
.
Since March, global trade protectionism has risen, "Dr.
Copper" as a global economic vane, market investment cautious, which has aggravated the weakness of copper prices this year
.
Although the EU, Mexico and Canada are still in the stage of imposing tariffs on each other with the United States, the trade relationship between China and the United States has eased, and copper prices have reflected the uncertainty of the trade situation for nearly three months, so the impact is gradually weakening
.
