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On Monday, the Shanghai copper 1905 contract stood out among base metals
.
Open at 49080 yuan / ton in the morning, slightly lower after the opening to test the low of 49070 yuan / ton, and then affected by the external market, bears actively reduce positions, copper price performance shock pulled, morning concentrated trading at 49220 yuan / ton line, after the shock stood firm, the price continued to rise, before the afternoon has reached around 49340 yuan / ton, afternoon again oscillated upward, the end of the session high 49440 yuan / ton, close 49350 yuan / ton
.
Up 390 tons, or 0.
8%.
In terms of the external market, the Asian market, London copper opened at 6419 US dollars / ton, after the opening copper price tested down 6413 US dollars / ton, then because the US index due to the weak manufacturing data, the performance fell sharply, copper prices began to fluctuate all the way up, noon has climbed to 6458 US dollars / ton around narrow range, afternoon again pulled, the end of the Asian session has touched 6480 US dollars / ton, and then into the European market, copper prices fluctuated at a high level, many times performed higher, but soon the high failed to last, the center of gravity fell back to the daily moving average, as of 16:50, London copper reported $6456/mt
.
In terms of the market, the tax reform landed on the first day of trading after the change of month, and Shanghai copper stabilized during the day after Friday's sharp decline, and the bottom of the shock bottom along the 49,000 yuan line showed signs of
recovery 。 The market for the space of 3% tax reduction for the 1904 contract quotation comprehensive sharp premium, the tax difference of about 1000 yuan / ton space makes the holder quotation premium 950 ~ 1100 yuan / ton, the holder is willing to sell the top price, few responders, the holder can only gradually reduce the premium quotation, the quotation is reduced to the premium 950 ~ 1000 yuan / ton, gradually appear passive receiving state, until the quotation premium 820 ~ 920 yuan / ton, the transaction is slightly improved, wet copper buying performance is weak, the quotation from the premium 800 yuan / ton / Tons around the drop of self-liter water 700 yuan / ton
.
Due to the lack of actual buying volume support for downstream consumption, intraday trading was sluggish, and market buying was weak
.
However, before April 1, holders will still hold firm quotations, the premium pattern will still be guided by the tax differential space, and some downstream enterprises that have just needed and have not completed the delivery of this month's long orders may still passively accept
after stopping and waiting.
In the afternoon, the price rose, but the sentiment of spot holders remained, and the spot quotation picked up again, but the actual transaction was rare, and the high premium was difficult for traders to be attractive
.
During the day, the main force of Shanghai copper closed the positive body slightly upward, the upper shadow broke through the pressure level formed by the adhesion of the 5-day and 10-day moving averages, and the downward expansion trend of the green column of the MACD indicator eased
.
Pay attention to the changes in positions between contracts, wait for external guidance, and test whether the main force of Shanghai copper can continue to test to 49500 yuan / ton
.
