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Last Friday, the Shanghai copper main 1907 contract opened at 48010 yuan / ton in the morning, the center of gravity of the disk briefly hovered at 48000 yuan / ton, and tested today's high of 48020 yuan / ton, and then affected by the external disk, the disk fluctuated sharply and declined, and has not yet held the 48000 yuan / ton mark
.
Due to the lack of market confidence, bears continued to increase their positions, continued to fall in the afternoon, and after consolidating at 47770 yuan / ton, the end of the session further fell to the lowest level of the day of 47530 yuan / ton, closing at 47630 yuan / ton, down 120 yuan / ton, down 0.
25%.
In terms of external trading, Asian market, London copper opened low at 6090 US dollars / ton in the morning, opened around the daily moving average to do a narrow range, and then slightly tested 6094.
5 US dollars / ton, affected by the negative impact of the stock market, and this morning the offshore yuan fell below 6.
94, causing market sentiment to fluctuate again, copper price performance fell rapidly, stagnated at 6059 US dollars / ton at noon, but also failed to recover the decline in copper prices, bearish performance continued to increase positions, although copper prices rose during the period, but also failed to change the downward pattern
。 Entering the European market, copper prices fell to a low of 6027.
5 US dollars / ton, after the low shock, copper prices tried to rise again, but the overall performance was still under pressure on the daily average of 6059 US dollars / ton, as of 17:00, London copper reported 6041 US dollars / ton
.
In terms of the market, Shanghai copper opened high and low, under pressure of 48,000 yuan / ton fell to 47,800 yuan / ton on the first line
.
The easing of supply and the temporary stop of the decline in futures have increased the willingness of holders to cash out, causing the premium to fall
rapidly.
At the weekend, the number of dumpers increased sharply, the position of the plate was embarrassing, the long and short stopped, and there was no room for price difference in the next month, the willingness to trade speculation decreased, and the state of oversupply again made it difficult to maintain the stability of spot premiums, and it is inevitable that there will be a discount supply
next week.
In the afternoon, the trade entered a stalemate, the market transaction was light, and the holders were not willing to cut their quotations
too much.
In the afternoon, flat water copper reported flat water - liter 10 yuan / ton, good copper reported 50 - liter water 60 yuan / ton, the transaction price was in the range of 47600 yuan / ton - 47820 yuan / ton
.
In terms of short pace, due to the impact of Trump's announcement of tariffs on China, copper prices have plunged down, and I personally understand that the decline in recent days is large, and there is a panic selling factor, so it does not come from the downward momentum
brought by its own supply and demand.
