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On Wednesday, the main 1902 contract of Shanghai copper opened in the morning at the intraday high of 49300 yuan / ton, the copper price at the beginning of the session was basically in the range of 49260 yuan / ton ~ 49300 yuan / ton oscillation, during the period of many times to test the intraday high of 49300 yuan / ton were blocked to fall, London copper lower, Shanghai copper dragged down, driven by the short market, copper prices from 49280 yuan / ton all the way down to 49090 yuan / ton
。 In the afternoon, the bears increased the suppression force again, copper prices fell slightly to test the intraday low of 49060 yuan / ton to get strong support, the tail copper price along 49070 yuan / ton ~ 49150 yuan / ton again narrow consolidation, the amplitude did not exceed 30 yuan / ton, closed at 49080 yuan / ton, up 70 yuan / ton, up 0.
14%.
In terms of the external market, during the Asian session, London copper jumped high at 6170.
5 US dollars / ton, opened in a narrow range after finishing up to a high of 6186 US dollars / ton, the center of gravity fell after the short-term high exploration, the shock fell down to a narrow range around 6170 US dollars / ton, the overall pressure on the daily moving average, until the end of the Asian session, copper price amplification, the amplitude of about 10 US dollars / ton, and then entered the European session, the center of gravity moved down again, tested down 6138 US dollars / ton after rebounding, as of 17:00, London copper reported 6154.
5 US dollars / ton, Up $7/ton
.
In the market, Shanghai copper continued to oscillate in the range, and the upward thrust of copper prices was weak, under pressure on the 10-day moving average
.
At the beginning of the market, the market quotation premium 100 ~ 200 yuan / ton, the market is afraid of high premium, the holder of the initiative to dump goods for cash is strong, good copper continues to lead the decline in quotations, the market repeats the previous day's high premium water fast diarrhea state, good copper fell to a premium of around 150 yuan / ton, flat water copper quotation to 60 ~ 70 yuan / ton, the transaction is still weak
.
The overall trading heat of the intraday market is low, and the cautious atmosphere of fear of heights spreads to the market
.
Approaching the delivery period, there is almost no price difference in the next month, coupled with the end of the annual long order, the market buying is sluggish, the downstream wait-and-see, traders will gradually clear inventory to control risks, and spot quotations within the week will return to the normal delivery period level
.
In the afternoon, the consumption heat was still light, and the holders were eager to sell good copper, and the good copper premium fell all the way, dragging down the flat water copper and showing no signs of
stopping.
The Shanghai copper index had an outflow of 33.
85 million yuan during the day, which was the only sector in the nonferrous sector with outflow funds
.
The main force of Shanghai copper stood firm on the 5-day moving average, reversing the volatile trend of the previous two days
.
Wait for external guidance, pay attention to the long and short position competition, and test whether the main force of Shanghai copper can continue to stand on the 5-day moving average of 49052 yuan / ton
.
