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On Tuesday, the main Shanghai copper contract 1909 opened at 47280 yuan / ton in the morning, and the trend was stable until the afternoon, and the center of gravity basically remained around 47270-47360 yuan / ton in a narrow range
.
At the beginning of the afternoon, the market fell slightly to 47180 yuan / ton, and then rebounded slightly and maintained around 47200 yuan / ton, and continued to slide to the lowest level of the day at 47130 yuan / ton after a slight consolidation, and rose slightly at the end of the session and closed at 47240 yuan / ton, up 350 yuan / ton, or 0.
75%.
At present, the twelfth round of Sino-US trade negotiations is underway, the market is optimistic about the negotiation negotiations, copper prices are basically fluctuating at a high level, and the Federal Reserve will announce its interest rate cut decision this week, which will guide copper prices
.
In terms of the external market, Apanlun copper opened at 6020 US dollars / ton, after the opening of the market basically around the daily moving average narrow range oscillation, because the market waited for the current macro event guidance, the morning high 6032 US dollars / ton, but then entered the European market, because the market has certain expectations for the Fed's interest rate cut operation, coupled with a series of economic data in European countries to show the negative euro, the dollar rushed to a high of 98.
1, copper prices were under pressure, bears actively entered the market copper prices all the way down the shock, fell below the 6000 mark, and did not stop
。
In terms of the market, the morning holder quotes a premium of 20~60 yuan / ton, the willingness to hold the price remains unchanged, but the transaction is limited, in the morning market, some traders receive flat water copper near 10 yuan / ton, and then flat water copper stabilizes at 20-30 yuan / ton of premium, good copper is stable at 50~60 yuan / ton, it is difficult to have room for price pressure, and there is almost no price difference between good copper and flat water copper; Wet copper continues to be tight and stable, stable at 20 ~ 10 yuan / ton, only some low-end imported copper in the discount of 30 yuan / ton in the line
.
The end of the month is coming, copper is rising, but the spot market has not seen the holders dump the goods for cash, the quotation is still firm, the main reason is still the recent arrival of imported copper is limited, most traders do not have financial pressure, so there is no dumping of the discount source, at the same time the end of the month to raise the water is also more difficult, the market transaction performance is low, continue to stalemate and tug of war characteristics
.
In the afternoon, as the market still maintained a stable high, the market quotation was still firm, and the market trading was suppressed by high prices, and the performance was light
.
