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On Monday, the main Shanghai copper contract 1910 opened at 46730 yuan / ton in the morning, and then immediately fell to the lowest level of the day at 46590 yuan / ton after testing 46740 yuan / ton, and then rebounded, and fluctuated between 46590-46700 yuan / ton
.
In the afternoon, the center of gravity fluctuated slightly around 46670 yuan / ton and continued to rise to the highest level of the day at 46820 yuan / ton, and fell at the end of the session and closed at 46750 yuan / ton, up 110 yuan / ton, or 0.
24%.
In terms of the external market, Yapanlon copper opened at 5761 US dollars / ton, after the opening copper price center of gravity basically maintained stability in the daily moving average oscillated in a narrow range of 5755-5765 US dollars / ton, until the end of the Asian market, copper prices jumped higher, up to 5800 US dollars / ton, the high level showed profit taking, gave up the decline in gains, and due to the recent macro disturbance, the bearish high ushered in the opportunity to enter the market, and then announced that China's July social finance data was cold, but also increased the confidence of bears, copper prices straight down 5715.
5 US dollars
。 As of 17:20, London copper was at $5731.
5 / ton, down 0.
55%.
In terms of the market, Shanghai copper fluctuated around 46,500 yuan / ton
.
Inventory increased, holders were eager to exchange cash, Monday's quotation showed a downward trend, morning market quotation premium 50 ~ premium 70 yuan / ton, difficult to trade, holders took the initiative to reduce the premium quotation to seek transactions, flat water copper took the lead to reduce the premium 30 ~ premium 40 yuan / ton, the transaction slightly improved, good copper premium 60 yuan / ton, can have room for price reduction; The supply of wet copper is still small, and the price is about 10 yuan / ton of premium, and there is little price difference
between wet copper and flat water copper.
The market supply is gradually increasing, downstream consumption is not strong, traders have few trade profit margins, the source of goods is difficult to digest, and the transaction gradually highlights the characteristics of
oversupply.
In the afternoon, market quotations were guided by the recent delivery level, the premium was high and difficult to fall, the high market price inhibited trading, the transaction was difficult to see active, and the stalemate pattern returned
again.
The overall realization of Shanghai copper in the daily market is a volatile pattern, mainly because the current market environment is still showing a weakening of macro, crude oil is affected by weak demand and resistance is also resisted, the situation of hard Brexit in the UK has intensified, increasing market risk aversion, and the overall market is favorable to the rise of copper prices
.
Shanghai copper closed negative during the day, the upper pressure 20-day moving average, MACD indicator still appears green column, technical is difficult to say good copper prices
.
