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On Tuesday, in the morning, the main 1804 contract of Shanghai copper opened at 53280 yuan / ton, and after the opening, the bears entered the market to suppress, and the copper price plummeted to 53100 yuan / ton and briefly retracted back to 53240 yuan / ton
.
Then fell sharply again, breaking the 53,000 yuan / ton integer mark, and the bears began to reduce their positions, boosting copper prices and standing on the 53,120 yuan / ton line
.
Then, the Shanghai copper shock fell, the center of gravity slowly moved down, and finally closed at 52930 yuan / ton, down 260 yuan / ton
.
Shanghai copper was affected by the surrounding financial markets to decline, closed a long upper shadow, the trend weakened, pay attention to whether copper prices can stand at the 53,000 yuan / ton mark
.
In terms of external trading, London copper opened at 7111 US dollars / ton, due to the overnight US stock market plunge, after the opening of base metals to make up for the decline, London copper's center of gravity quickly moved down, once tested down to 7025 US dollars / ton, and then rebounded low to the daily average of 7062 US dollars / ton around the shock operation, after entering the European and American session, with the fall of the US dollar index, London copper relying on the daily moving average shock recovery, as of 17:13, London copper reported 7102.
5 US dollars / ton
.
During the day, the trend of London copper first fell and then rose, closing a long lower shadow, and the 7100 US dollars / ton integer mark in the evening may be repeated
.
In terms of the market, overnight U.
S.
stocks and U.
S.
bonds double-kill, the morning market domestic commodity market to make up for the fall, Shanghai copper opened down, from around 52900 yuan / ton until around 52550 yuan / ton to stabilize, the morning market from the plate below 52700 yuan / ton when the initial slow decline, flat water copper quotation discount 30 ~ 20 yuan / ton, good copper flat water ~ 10 yuan / ton, the transaction is good
.
Immediately, the holder raised the price to 20 yuan / ton of good copper premium, and 10 yuan / ton of flat water copper, but the transaction was difficult to compare with the morning market
.
Traders favor good copper, and under the background of maintaining a stable monthly spread of 270 yuan / ton in the delivery cycle, the receipt warehouse receipt is used for delivery
.
The downstream purchase volume gradually decreased, and the transaction volume decreased
significantly compared with the previous day.
In the afternoon session, the market trading is still deadlocked, the willingness of the holders to hold the price is strong, flat water copper reported a discount of 20 yuan / ton - discount 10 yuan / ton, good copper reported a premium of 10 yuan / ton - 20 yuan / ton, the transaction price is 52380 yuan / ton - 52600 yuan / ton
.
In terms of stocks: COMEX copper stocks 223108 short tons as of February 5, an increase of 136 tons from February 2; LME copper stocks were 304,000 tonnes, down 325 tonnes from Feb.
2; As of February 6, SSE futures inventories were 54,363 tons, an increase of 1,645 tons
from the previous day.
Overnight U.
S.
stocks and U.
S.
bonds double kill, morning market domestic commodity market to make up for the fall, Shanghai copper opened down, domestic copper spot continued to narrow, copper prices to form support, close to the Spring Festival, consumption light coupled with the end of the year domestic tight capital surface, investor trading enthusiasm or gradually weakened, it is expected that copper prices are likely to maintain a volatile trend, short-term market panic has not been repaired, Shanghai copper or continue to run
weakly.
