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On Monday, the main contract of Shanghai copper 2001 opened at 47240 yuan / ton in the morning, affected by the domestic Caixin manufacturing PMI in November exceeded expectations, the market sentiment was optimistic, bulls actively entered the market, Shanghai copper continued to rise to the highest level of the day around 47370 yuan / ton, but due to the current Sino-US trade situation increased uncertainty, market confidence is insufficient Shanghai copper is difficult to go further higher, and then the center of gravity fell slightly back to around 47300 yuan / ton until the end of the afternoon session, the afternoon market trend is stable, The center of gravity basically remained stable around 47,300 yuan / ton, and closed at 47,300 yuan / ton at the end of the session, up 20 yuan / ton, or 0.
04%.
In terms of external trading, Apanlon copper opened high at 5886 US dollars / ton, after the morning opening due to the release of China's manufacturing PMI data at the end of last week, the overall center of gravity of copper prices moved up to around 5898 US dollars / ton, and the morning high maintained stability and volatility
.
Then entered the European market, at the beginning of the session in the short-term high of 5908.
5 US dollars / ton, due to the rise of the US dollar index, copper prices gave up gains, fell back to 5869 US dollars / ton
.
As of 17:30, London copper closed at $5872/ton, down 0.
04%.
In terms of the market, Shanghai copper opened low and high in early trading, hovering
along the line of 47200 yuan / ton.
At the beginning of the month, traders have a strong willingness to raise prices, the morning market quotation premium 100 ~ liter 120 yuan / ton, flat water copper part as low as 90 yuan / ton but soon to be collected, after flat water basically returned to the premium 100 yuan, good copper transaction basically around the premium 110 yuan / ton, low-price sources still attract some traders to buy; There is a difference in the performance of wet copper, the brand reputation is better can stand in the premium 40-liter 50 yuan / ton, and even can be reported to 60 yuan / ton, but there are some brands as low as 20 yuan / ton and there is no downstream interest, downstream maintenance of just demand performance, traders are active, the target is still relatively low premium to buy flat water copper, so flat water copper attention is high, resulting in flat water copper and good copper price difference narrowing only 10 yuan space, difficult to have room
for operation.
Entering December, funds are still abundant, inventories are on the low side, and the market's willingness to push up water this week is clear
.
In the afternoon, the spot market almost did not have a flat water copper with a premium of 100 yuan / ton, and good copper also maintained a stable premium of 120 yuan / ton, and the plate price also continued to maintain stability at a high level, and the market transaction was deadlocked
.
