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On Thursday, the main contract of Shanghai copper 2005 opened as low as 38,960 yuan / ton in the morning, and quickly fell to the lowest level of the day at 38,570 yuan / ton after the opening, and then the bears reduced their positions one after another, and the copper price bottomed out and rebounded above the 39,000 mark, closing at 39,170 yuan / ton at the end of midday; In the afternoon, bulls actively joined the WTO to help copper prices continue to soar, until the close Shanghai copper continued a strong trend, touching the highest point of the day at the end of the day 39650 yuan / ton, up 400 yuan / ton, up 1.
02%.
In terms of external trading, London copper opened at 4799.
5 US dollars / ton in the morning, due to the negative pressure of last night's US and European manufacturing data, copper prices bottomed out at 4760 US dollars / ton in
the morning.
But then, as the United States fought for major OPEC countries to return to the negotiating table, the market rekindled hopes for a rebound in oil prices, crude oil sharply recovered its recent losses, a large area of red followed suit, copper prices also strengthened, and in the afternoon it has reached a high of $4873 / ton
.
As of 16:00, the price of London copper was 4850 US dollars / ton, an increase of 0.
95%.
In terms of the market, Shanghai copper opened low and went high, the initial exploration of the low of 38650 yuan / ton all the way up to 39300 yuan / ton line, quickly recovered the intraday decline, the holder's quotation is firm, the market inquiry is active, the morning market quotation premium 130 ~ premium 150 yuan / ton, flat water copper concentrated transaction in the premium 130 ~ premium 140 yuan / ton, good copper price above the premium 140 yuan / ton, downstream bargain to maintain an appropriate amount of buying, wet copper followed by the premium 90 ~ premium 100 yuan
。
Copper fluctuates greatly, and the holders maintain a strong price, but the pace of premium re-push is slow, and it is difficult for traders to have room for receiving goods and lowering prices, and the characteristics of supply and demand are obvious
.
In the afternoon, non-ferrous metals continued the noon market upward trend, continued to pull up 300 yuan / ton, completed the intraday turn into a rising trend, rushed above 39600 yuan / ton, closed at the recent high of 39770 yuan / ton, spot quotation held firm flat water copper premium 140 yuan / ton, good copper premium 150 yuan / ton, the transaction price rose sharply at 39430-39650
.
Shanghai copper opened low and went high during the day, mainly due to
the sharp rebound of international crude oil prices.
As US President Trump expects that the oil price war between Saudi Arabia and Russia will soon end, and is expected to reach an agreement in the near future to re-raise oil prices, the market's worries have eased, helping U.
S.
oil and crude oil to stop falling and rising, commodities have been boosted by linkage positive factors have risen, Shanghai copper has also changed its decline and re-rushed to the 40,000 mark
.
