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On Monday, the Shanghai copper 1905 contract was affected by the external market on Friday, and continued to open lower at 48360 yuan / ton in the morning, opening higher than 48440 yuan / ton, and the center of gravity in the morning basically revolved around 48400 yuan / ton, and the price fluctuated in the range of 48340-48440 yuan / ton
.
Until near noon, copper prices began to show slow volatility to the downside
.
In the afternoon, bulls continued to reduce their positions, and copper prices maintained a decline until the end of the session to test a low of 48110 yuan / ton, closing at 48120 yuan / ton, down 960 yuan / ton, down 1.
96%.
Externally, the Asian market, London copper affected by the US dollar, opened low at 6310.
5 US dollars / ton, after the opening copper price performance slowly oscillated upward, until near noon, short touch 6332 US dollars / ton, copper prices gave up the morning gains, then under pressure daily moving average to 6318 US dollars / ton around the shock, at the end of the Asian market, copper prices again under pressure from the US dollar, London copper shock downward, until the lower 6296 US dollars / ton, and then into the US market, the dollar expanded the strength of giving back, Falling to around 96.
5, London copper prices rose again to near the daily moving average, as of 17:00, London copper was reported at 6327 US dollars / ton
.
In terms of the market, the poor data in Europe and the United States on Friday caused concerns about the global economic slowdown, the soaring dollar caused a collective plunge in commodities, base metals generally drifted green, and the Shanghai copper gap opened low and fell to 48200 yuan / ton
。 Copper fell sharply, the premium was pulled up again, the morning market holders quoted a premium of 1050 ~ 1180 yuan / ton, the market reaction was cautious under the stalemate, the second trading session, small and medium-sized traders in the context of financial pressure and sufficient profits, opened the downward trend, flat water copper in the adjustment to 1000 ~ 1020 yuan / ton, only a short stop fell below the thousand yuan mark, down to a premium of about 980 yuan / ton, good copper from the premium 1130 ~ 1150 yuan / ton to close to 1100 yuan / ton, Good copper is slightly less favored than flat water copper
.
The intraday market fell sharply, and there are still some downstream bargain hunts to replenish, so Pingshui copper still has a certain amount of room
for price reduction.
In the afternoon, as the market price continued to fall, the holders continued to hold the monthly ticket premium quotation, unwilling to continue to reduce when the market fell, so the spot premium rose slightly in the afternoon
.
In the afternoon, flat water copper reported a premium of 970-1000 yuan / ton, a good copper report of 1070-1130 yuan / ton, and the transaction price was in the range of 49020 yuan / ton - 49300 yuan / ton
.
The main force of Shanghai copper closed negative during the day elongated, fell below the 60-day moving average and the lower band of the Bollinger band, and formed a gap above, forming a strong pressure
above the technical copper price.
Wait for the guidance of the external market to test whether the main force of Shanghai copper can hold the integer mark
of 48,000 yuan / ton.
