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Last Friday, the main Shanghai copper contract 1912 opened at 47340 yuan / ton in the morning, and after the opening, the bears increased their positions one after another, the center of gravity moved slightly down to 47330 yuan / ton, and the second trading session continued to fall to the lowest level of the day at 46260 yuan / ton, and then the center of gravity of the bulls entered the market moved up to around 47300 yuan / ton until the end of midday; In the afternoon, the market was bullish, bears successively reduced their positions and left the market, bulls entered the layout, the afternoon plate went all the way above the daily moving average, to the highest of the day to 47420 yuan / ton, the end of the session slightly corrected and closed at 47390 yuan / ton, up 80 yuan / ton, up 0.
17%.
In terms of external disk, Apanlon copper opened at 5877.
5 US dollars / ton, in the morning due to the Brexit extension is basically determined, coupled with the Chilean copper mine strike gradually resumed, so copper prices in the morning low 5862 US dollars / ton, short-term low test, the center of gravity at noon basically maintained around 5868 US dollars / ton
.
Subsequently, at the end of the Asian session, due to the market's expectations of a rate cut at the upcoming Fed interest rate meeting, the low level of the US dollar gave copper prices an opportunity to recover, and bulls took the opportunity to increase their positions, and London copper tested $5890 / ton
on the short term.
As of 16:00, London copper closed at $5,874/ton, down 0.
07%.
In terms of the market, the Shanghai copper rush was blocked at 47200 yuan / ton
.
According to the announcement of the Shanghai State Taxation Bureau, the day began to enter the comprehensive tax stamp upgrade system, the market can no longer issue the current month's ticket, fully open the next monthly ticket quotation, the market supply is abundant, the willingness of the holder to exchange cash is strengthened, early in the morning flat water copper appeared discount quotation, good copper can only be maintained in the premium 10 yuan / ton line, because the inquiry atmosphere is also relatively light, there are very few people asking for goods, flat water copper is the first to reduce to a discount of 20 yuan / ton, a small amount of lower prices, good copper report reduced to flat water, although the transaction is still weak, but the holder is unwilling to discount shipments
。
Although copper prices have been lowered, they are still on the high side, and the market remains cautious on the sidelines; Traders are expecting a higher discount to receive goods, and low market buying is still the main reason for
the lower premium.
In the afternoon, because the market low-priced sources were welcomed by traders, the low-price receipt situation turned better, which also made the holders take the opportunity to raise the spot quotation, but with the arrival of the weekend, the quotation market recognition participation was low, so the transaction returned to deadlock
.
