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On Monday, the Shanghai copper main 1811 contract opened at 47690 yuan / ton in the morning, long positions increased at the beginning of the session, copper prices rose to 47750 yuan / ton, and then, short long positions, bears followed the trend to increase positions, copper price center of gravity slowly declined
.
Entering the second trading session, the bears temporarily took profits and left the market, and copper prices rose slightly, hindered at 47,650 yuan ton.
In the afternoon, the center of gravity of copper prices shifted down again, touching the lowest of the day at 47440 yuan / ton at the end of the day, closing at 47460 yuan / ton, down 220 yuan / ton, or 0.
46%.
In the external market, London copper opened at 5883 US dollars / ton, and at the beginning of the session, London copper rose slightly to the highest of 5901.
5 US dollars / ton in the day, short positions increased, and the center of gravity of copper prices slowly fell
.
Copper prices rebounded slightly before noon, hindered by $5,884/mt
.
In the afternoon, copper prices oscillated around the daily moving average, and the center of gravity gradually shifted downward, during which it touched the lowest of 5850 US dollars / ton
in the day.
As of 17:30, London copper was trading at $5878.
5/ton
.
In terms of the market, the daily average of Shanghai copper under pressure hovered around 47,700 yuan / ton, the Shanghai-London ratio remained stable at the 8.
1 line, and the import window maintained a profitable state, so that the holders enthusiastically shipped, the morning quotation premium 60 ~ 100 yuan / ton, due to the lack of strong buying, the holder took the initiative to lower the quotation, flat water copper took the lead to reduce the premium to 30 yuan / ton transaction to improve, good copper down to a premium of 80 yuan / ton
.
Due to the large supply of goods in the market, especially the obvious increase in imported copper sources, the characteristics of oversupply are obvious
.
In the afternoon, the plate fell, the import window continued to open, the supply remained abundant, the market willingness to cash out also continued, there was room for continuous price reduction, although the market inquiry was positive, but the price reduction still made the holders hesitate, in the afternoon flat water copper has begun to show flat water quotation, good copper has dropped to a premium of 40 yuan / ton line, the transaction is not optimistic
.
During the day, the nonferrous metal sector as a whole outflowed 508 million yuan, and the Shanghai copper index outflowed 147 million yuan
.
Last week's U.
S.
August non-farm payrolls data employment and hourly earnings both exceeded expectations, hourly earnings year-on-year growth rate hit the largest growth rate since June 2009, the dollar was boosted by this, is currently operating around 95.
4, offshore yuan fell below 6.
87 last week, a new high since September, Shanghai copper intraday pressure lower, the upper 10-day average and 20-day moving average are getting closer and closer, forming a heavy pressure of 48,000 yuan / ton line, currently winding in the 5-day moving average
.
