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Wednesday's Shanghai copper main contract 1911 opened at 47280 yuan / ton in the morning, after the opening the center of gravity stabilized around 47240 yuan / ton, close to the midday plate up to 47350 yuan / ton, the afternoon opening was tested lower 47260 yuan / ton, and then fluctuated between 47260-47330 yuan / ton, and then pulled up to the highest level of the day 47430 yuan / ton, fell at the end of the session and closed at 47310 yuan / ton, down 70 yuan / ton, down 0.
15%.
Externally, Apanlon copper opened at $5818.
5 / ton in the morning, the market waited for the results of the Fed's interest rate decision, the dollar fell slightly in the morning, copper prices slowly rose, until it entered the European market after peaking at $5849 / ton, but the high failed to hold, soon bulls took profits to close their positions, and then released the eurozone and the UK CPI data were bearish, copper prices soon fell below the 5800 mark, reaching a low of $5793 / ton
.
As of 17:00, London copper was at $5,797 / ton, down 0.
28%.
In terms of the market, Shanghai copper continued to fluctuate in a volatile pattern, hovering at 47,300 yuan / ton
.
Holders have a strong willingness to raise prices, the morning market quotation premium 160 ~ 190 yuan / ton, traders inquiry active, 160 ~ 170 yuan / ton of flat water copper and 190 yuan / ton of good copper sources are quickly poured in by traders to receive
.
At about ten o'clock, under the guidance of some traders, buying increased, transaction activity increased significantly, and another round of receipt led to a rapid rise in premium quotations, flat water copper increased to 190 yuan / ton, good copper quotations premium 200 ~ liters 210 yuan / ton range, but the high transaction slowed down
.
The enthusiasm of some downstream pre-holiday replenishment has slightly increased compared with before, and the source of wet copper is difficult to find, and the tight price of goods is high, raised to 120 ~ 140 yuan / ton
.
There are still long orders delivered before the National Day holiday, the market still has the willingness to replenish, the overall market is facing various consumption expectations, and the inventory increment is limited, traders take the lead in leading the receiving boom, and the trend of strong quotations this week is difficult to change
.
In the afternoon, the market trading sentiment continued to heat up, and the holders had a strong willingness to raise prices, and continued to raise quotations
.
The intraday market continued to maintain stability, mainly due to the current market optimism declined, the global macro economy is still weak, investors are cautiously bullish, the market is waiting for the Fed interest rate decision and Sino-US trade news, so as to further judge the direction
of copper prices.
