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Overnight, the main contract of Shanghai copper 1910 opened at 46430 yuan / ton in the morning, and then the long position increased to 46700 yuan / ton, and then the copper market was not confident, it was difficult to stand firm at the high, the plate continued to fall, and the center of gravity was basically stable at 46500 yuan / ton
.
In the afternoon, the market remained stable, and the center of gravity was located in the range of 46500-46580 yuan / ton, until the end of the day, closing at 46510 yuan / ton, up 420 yuan / ton, or 0.
91%.
In terms of external trading, Apan Lun copper opened at 5747 US dollars / ton, after the narrow range of shock after the morning open, the short-term down low of 5724 US dollars / ton, because the market risk aversion is still there, bears took advantage of the low level to take profits, the overall center of gravity moved up above the daily moving average, and the short-term high of 5782 US dollars / ton, the afternoon center of gravity basically remained stable at 5765 US dollars / ton, the overall amplitude did not exceed 30 US dollars / ton, maintaining a shock pattern, as of 17:00, London copper reported 5758.
5 US dollars / ton, up 0.
33
。
In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 50 ~ 100 yuan / ton, a flat water copper trading price of 46400 yuan / ton ~ 46530 yuan / ton, and a premium copper trading price of 46430 yuan / ton ~ 46560 yuan / ton
。 The bullish power of the nonferrous metal market returned obviously, and the Shanghai copper rose to 46400 yuan / ton in the first line, but the stalemate in the spot market continued to continue, the morning market continued to maintain the quotation premium of 60~100 yuan / ton, the quotation of flat water copper holders is still more persistent, maintaining a premium of 60~70 yuan / ton around, traders intend to receive goods at a low price, the premium of 50 yuan / ton is still the target receipt price level of traders, and part of the source of good copper can be pressed down to a premium of 80 yuan / ton; Wet copper around the premium of 30 yuan / ton of the first line quotation
.
The price of flat water copper has good resistance to decline, and the transaction is still biased towards flat water copper
.
During the week, copper prices gradually recovered, but the downstream buying volume was decreasing day by day, trade activity was limited, and it was difficult for supply and demand sides to change, and the transaction was in a deadlock
.
The import window opened for profits during the week, and the market waited for imported copper to enter the market to increase, thus breaking the existing deadlock
.
In the afternoon, the market was less volatile, and the market trading sentiment has weakened, so the market continues to remain deadlocked, and the price quotations of holders have a slight room
for price reduction.
At present, the overall performance of Shanghai copper is a volatile pattern, mainly due to the recent Sino-US friction affected copper prices to a low level, the market cautiously continues to be bearish, bulls buy on the dip increases, copper prices have slightly shifted
upward.
However, due to the current economic and trade pattern is still risky, the market risk aversion is strong, and the momentum to continue to rush up is insufficient
.
