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On Friday, the main 1803 contract of Shanghai copper opened at 53180 yuan / ton, after the opening of the copper price center of gravity slowly down, low to 53020 yuan / ton, then copper price back to the opening price near the momentum consolidation, in the afternoon, bulls strong position influx, driving copper prices all the way up, momentum like a rainbow, in turn pierced the resistance of the 5-day moving average and the 10-day moving average, touching as high as 53670 yuan / ton, the end fell slightly, and finally closed at 53520 yuan / ton, up 380 yuan / ton
。 In the afternoon, Shanghai copper rose strongly, but the pressure on the upper moving average was greater, and it is expected that copper prices will remain volatile in the short term, holding the recent bottom position, and try to break through the average resistance
upward.
In terms of the external market, London copper opened at 7130 US dollars / ton, after the opening London copper around the daily average of 7122 US dollars / ton narrow consolidation, into the afternoon, in the long position driven by a large increase in positions, London copper rose strongly, all the way to 7188.
5 US dollars / ton, close to the 7200 US dollar mark on the impulse energy weakened, after a short consolidation of London copper, began to shock down, European and American hours, with the rise of the dollar index, London copper accelerated to fall, all gave up the previous gains, low to 7094.
5 US dollars / ton, as of 18 :48, London copper reported $7100/ton.
In terms of the market, Shanghai copper continued to bear pressure of 53,000 yuan / ton, and the holders seized the weekend to ship at the weekend for downstream replenishment, and the price difference in the next month remained at 200~220 yuan / ton, and the market quotation was discounted 70~30 yuan / ton
.
Good copper morning market quotation discount 50 yuan / ton, the receipt of positive, when the quotation is raised to 30 yuan / ton, the transaction is delayed, but good copper still leads the market quotation up, downstream receiving is still concentrated in wet copper, so the intraday wet copper holder quotation quickly narrowed to the discount of 170 ~ 150 yuan / ton, downstream buying active, the transaction is acceptable
.
Next week, facing the February delivery before the Spring Festival, the price spread of the next month shows no signs of narrowing, and the copper price discount may continue to narrow and rise under the leadership of holders
.
In the afternoon session, the price of copper rose sharply, the market transaction was obviously suppressed, only some low-end sources had a small number of transactions, the willingness of holders to exchange cash at high prices increased the discount slightly expanded, flat water copper newspaper discount 90 yuan / ton - discount 70 yuan / ton, good copper discount 60 yuan / ton - discount 50 yuan / ton, the transaction price is 52840 yuan / ton - 53300 yuan / ton
.
In terms of news, the Federal Reserve kept interest rates unchanged, the dollar was weak, the dollar index was weak, and the copper price was re-boosted, and London copper returned to the high support of $7100, in the short term due to the continuous decline in inventories, the support copper price decline is limited, but the Chinese Spring Festival is approaching, demand is weakening, copper prices are obviously under pressure to weaken, in the long run, the copper mine strike in the future market superimposed on the heating up demand to support copper prices better
.
