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On Wednesday, the main 1811 contract of Shanghai copper opened at 49542 yuan / ton in the morning, overnight Shanghai copper jumped sharply and closed at a high level, early trading at the beginning of the short profit reduction, copper prices fell slightly back to 49360 yuan / ton, but then continued to enter the short flat situation, copper prices maintained a rebound rhythm, climbing 49700 yuan / ton
.
Entering the second trading session, copper prices were sorted
out in the range of 49500~49700 yuan / ton.
In the afternoon, some short and more risk-off exits, copper prices narrowly sorted out in the range of 49450-49550 yuan / ton, the volatility was only around 100 yuan, closing at 49640 yuan / ton, up 1240 yuan / ton, up 2.
56%.
In terms of external trading, London copper gap opened high at 6108 US dollars / ton, early London copper along the daily moving average narrow range, Asian market open, London copper center of gravity briefly fell slightly, down to the lowest of the day 6083 US dollars / ton, bears took the opportunity to leave, copper price center of gravity continued to rise
.
In the afternoon, copper prices around 6138 US dollars / ton narrow range, the amplitude did not exceed 8 US dollars / ton, during the period climbed the intraday high of 6145 US dollars / ton, European session, London copper fell slightly, currently along the daily moving average narrow range
.
As of 16:50, London copper was trading at $6118.
88 / ton
.
In terms of the market, copper prices at home and abroad jumped overnight, leading the rebound of base metals, and Shanghai copper stood at 49,000 yuan / ton in one fell swoop, an increase of more than 1,000 yuan, and was hindered at 49,800 yuan / ton
during the day.
The morning inquiry was active, the willingness of the holders to ship was high, and the high premium water hindered
the large increase in shippers and the transaction.
At about ten o'clock, the holder took the initiative to lower the quotation, and the transaction gradually improved
.
In the second trading session, holders are still enthusiastic in quotations, low-priced sources are favored by speculators, downstream remains rigid demand, wet copper sources are difficult to find, tight prices are high, and quotations have been close to flat copper prices
.
The copper price has exceeded 50,000 yuan / ton during the day, speculation and downstream consumption are slightly afraid of high sentiment, but traders are optimistic about the various consumption expectations faced by the market, and the pattern of high premium is difficult to change
for the time being.
The spot premium in the afternoon is basically the same as in the morning, although the fear of heights is still strong, it is difficult to have an actual transaction, but the attitude of the holders to support the price remains unchanged
.
Shanghai copper jumped high overnight, went up another level within the day, got rid of the previous low shock pattern, and has completely stood above
the 60-day moving average.
The central bank's net investment scale has been amplified for two consecutive days, and the easing of funds combined with consumption expectations before the long holiday has given bulls confidence to open the curtain of a breakthrough rebound and test whether Shanghai copper can test the 50,000 yuan / ton mark
in one go.
Pay attention to the release performance of bulls
' energy.
