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On Monday, the Shanghai copper main 1809 contract opened at 48200 yuan / ton, a large number of short positions were reduced at the beginning of the session, and copper prices climbed to 48310 yuan / ton after a brief consolidation
.
Entering the second trading session, the center of gravity of copper prices moved down to 48050 yuan / ton and the first line of shock operation
.
In the afternoon, short profits reduced positions, a small number of long positions increased, copper prices climbed rapidly, touching 48280 yuan / ton, at the end of the session, slightly down, closing at 48250 yuan / ton, up 400 yuan / ton
.
On the macro front, the central bank invested a net of 120 billion yuan, the third consecutive day of net investment, but the liquidity of the interbank market remained tight
.
The CBIRC requires the banking and insurance industry to support the infrastructure sector to make up for shortcomings, emphasizing infrastructure, consumption, import and export and other fields
.
In terms of the market, the price of domestic spot copper rose, and the price of Guangdong spot 1# copper was 48520 yuan / ton, up 410 yuan; Yangtze River spot 1# copper price reported 48560 yuan / ton, up 540 yuan, premium 260-280; Shanghai spot 1# copper price was 48490 yuan / ton, up 450 yuan / ton
.
In the spot market, the premium rose sharply, the quotations of holders were more positive, and the overall transaction performance was acceptable
.
Industry News:
1.
According to BHP Billiton's official sources, the strike in Escondida, the world's largest copper mine, has been completely eliminated
in Taigu County.
Escondida employees said in a text message last Friday that workers voted in favor of the latest wage proposal
.
The parties later signed a contract
.
After reaching an agreement with management, union leaders made the proposal to about 2,500 members this week, ending 3 months of negotiations
.
Santiago, Aug.
17 -- An internal memorandum obtained earlier Friday showed that Chile's main union at the Caserones mine had accepted a proposed revised contract from management, thus avoiding the threat of
strike.
Intraday Shanghai copper showed a strong trend of volatility, and the main contract closed at 48250 points, up 0.
84%.
From a plate point of view, copper prices after a sharp fall, gradually rebounded, closing below the 5-day moving average of 48320 points, while for London copper, the early support level of $6,000 will become a pressure level, whether copper prices have established a bottoming recovery still needs to be examined
.
Although the dollar briefly retreated to support copper prices, it remained high
.
Copper prices fluctuated slightly
.
