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The main Shanghai copper contract 2006 opened at 41920 yuan / ton in the morning on Tuesday, and was slightly pushed higher
by bulls after the open.
At this time, the short position increase accompanied by the exit of the bulls to suppress copper prices, all the way down to the lowest point of the day of 41570 yuan / ton
.
The center of gravity rose to 41,800 yuan / ton, and fluctuated in a narrow range around it, closing at 41,800 yuan / ton
at midday.
In the afternoon, the long position increase operation pushed up copper prices again, to the highest point of the day 41970 yuan / ton, but the upward momentum was insufficient, the center of gravity of copper prices fell back to 41830 yuan / ton, and the long positions at the end of the day pulled down copper prices, and finally closed at 41750 yuan / ton, up 40 yuan / ton, or 0.
10%.
In terms of external trading, Apanlon copper gaped at 5140 US dollars / ton
.
Shanghai copper recorded a large increase during the Easter shutdown as global copper supply problems continued to ferment, and this morning the Antamina copper mine announced a two-week suspension of operations, stimulating the Geneva copper market to open
higher.
The opening copper price continued to rise, based on 5150 US dollars / ton, the surge was blocked by 5195 US dollars / ton, during the Asian session, above the daily moving average strong narrow range, and before the European session, to explore the high to 5200 US dollars / ton.
After entering the European session, crude oil retreated, the US dollar recovered, copper prices gave up the gains in the Asian session, fell slightly to the $5150 line, held steady around $5160 / ton, still maintained a strong trend
.
As of 17:00, London copper closed at $5158.
5/ton, up 2.
51%.
In terms of the market, Shanghai copper is under pressure of 42,000 yuan / ton below the mark
.
Traders inquired actively in the morning, the spot market stalemate remained unchanged, the market continued the previous day's quotation, premium 80 ~ liter 100 yuan / ton, flat water copper a small amount can be pressed price as low as 70 yuan / ton, good copper quotation as low as 90 yuan / ton can be received, the transaction atmosphere is slightly better than the previous day
.
In the second trading stage, the source of low-priced flat water copper has been difficult to find, flat water copper price is 90 yuan / ton of premium, good copper maintenance stable premium 100 yuan / ton, but the transaction heat is not as good as the morning market, downstream to maintain just demand, wet copper slightly raised quotation to around
50 yuan / ton.
The quotation of the holder is also unchanged, some traders have a low price, but the pressurable space is limited, the transaction is mainly based on the receipt of goods by traders, and the value of the holder is hindered under the continuous rebound, and the premium is forced to maintain a firm attitude
.
In the afternoon, the plate tried to break through 42,000 yuan / ton after rushing back down to 41950 yuan / ton line, the quotation was 10 yuan / ton higher than the morning, flat water copper quotation premium 90 yuan / ton, good copper premium 100 yuan / ton, there is almost no price difference between brands, only quotations, the transaction is sporadic, the market is mostly afraid of heights and caution, the afternoon transaction price has all stood at 42000 yuan / ton at 42010-42050 yuan / ton
.
Fundamentally, the news of copper mine production cuts or even production interruptions caused by epidemic prevention and control has increased one after another, which has aggravated the market's concerns
about copper supply.
It is expected that copper prices will have limited
room to decline in the short term.
During the day, Shanghai copper closed in the sun, oscillating around 41,800 yuan / ton, and failed to break through
the 42,000 yuan / ton mark twice.
Bulls are afraid of heights
.
Next
, we need to pay attention to the replenishment of the gap in the early stage.
