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On Tuesday morning, the main 1810 contract of Shanghai copper opened at 49820 yuan / ton, short positions increased at the beginning of the session, long night market entry, morning profit-taking, copper prices quickly fell to the intraday low of 49380 yuan / ton, and then a small number of short positions were reduced, and the center of gravity of copper prices moved slightly up to 49530 yuan / ton A line of shock operation
.
In the afternoon, the outer market fell first, the internal market was short and positioned, copper prices were affected down to 49410 yuan / ton, the low rebound shocked upward, touched 49650 yuan / ton, the end of the session short more exit, slightly down, closed at 49520 yuan / ton, up 160 yuan / ton
.
In terms of external trading, London copper opened at 6138 US dollars / ton, the beginning of the session slightly climbed to touch 6150.
5 US dollars / ton after the shock fall, in the daily average above the narrow range of oscillation, blocked 6135 US dollars / ton, in the afternoon, copper prices again charged upward, still blocked at 6150 US dollars / ton, bears pressed down to the intraday low of 6090 US dollars / ton, under pressure daily moving average shock operation, as of 17:20, London copper reported 6103.
5 US dollars / ton
.
In terms of the market, Shanghai copper fell slightly, attracting some downstream to replenish the market
.
In the morning, the holder quoted a premium of 40~60 yuan / ton, and the basis narrowed to 20 yuan / ton in the next month, it is difficult to have an actual transaction, speculators follow the trend to suppress the price, flat water copper pressure price premium 20~30 yuan / ton, good copper pressure price space is limited, the transaction maintains a premium of 50~60 yuan / ton, wet copper quotation is fully transferred to the discount, the quotation discount is about
20 yuan / ton.
Downstream buying improved
from the previous day.
The inventories of large traders have shrunk, even if the last trading day, the market spread is inverted, and it is difficult for the spot to show a comprehensive discount
.
In the afternoon, the plate fell slightly, the daily average below the wide range oscillation, the next month price difference maintained about 30 yuan / ton, the liter discount quotation was basically the same as in the morning, the downstream bargain buying was acceptable, traders continued to receive the goods at a low price, flat water copper rose 20 ~ liter 30 yuan / ton, good copper rose 50 ~ liter 60 yuan / ton, the afternoon transaction price was 49400 yuan / ton ~ 49560 yuan / ton
.
Shanghai copper closed down again during the day, giving up all the gains of the previous day, and the 20-day moving average support weakened
.
The offshore yuan hit a new low, the lowest fell below 6.
9, and the current 6.
88 volatility
.
Domestic economic data performance is worrying, China's industrial added value above designated size in July was unchanged from June year-on-year, the retail growth rate of 0.
6% of the home appliance industry fell by nearly 10% from the previous month, the automotive industry had negative growth for three consecutive months, and the overall consumption declined
.
In the short term, domestic fundamentals are difficult to support the upward
rush of copper prices.
Pay attention to the external guidance, it is expected to fluctuate
in a narrow range along 49500 yuan / ton.
