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On Thursday, the main 1811 contract of Shanghai copper opened at 50490 yuan / ton in the morning, Shanghai copper continued the trend of overnight at the end of the session, bears continued to reduce positions, copper prices quickly touched 50560 yuan / ton, then long profits exited, bears with positions in, copper prices fell below the daily moving average, the center of gravity continued to move down, and then along the 50328 yuan / ton around a narrow range
.
In the afternoon, a large number of long positions were reduced, and the center of gravity of copper prices continued to fall, during which it touched the low of 50,070 yuan / ton in the day, temporarily holding the 50,000 yuan / ton mark, closing at 50,130 yuan / ton, down 450 yuan / ton, down 0.
89%.
In terms of external disk, London copper gap opened low at 6277 US dollars / ton, early Lun copper along the daily moving average narrow range, during the period touched 6290 US dollars / ton, short positions increased, London copper center of gravity fell slightly, and then along 6263 US dollars / ton narrow range
.
In the afternoon, the dollar index rose rapidly, a large number of short positions increased, copper prices gave up all the gains of the day, touched the intraday low of $6200 / ton, temporarily holding the $6200 / ton mark
.
During the European session, the US dollar pulled back slightly, and London copper slowly recovered, and then fluctuated
in a narrow range along the daily moving average.
As of 17:30, London copper was trading at $6236/ton
.
In terms of the market, Shanghai copper under pressure daily moving average, copper prices hovered at 50500 yuan / ton line, the morning market quotation of the holder is slightly corrected from the previous day, the market quotation discount 20 yuan / ton ~ premium 20 yuan / ton, middlemen are cautious wait-and-see
.
Good copper lack of people take the lead to reduce to flat water ~ 10 yuan / ton, but still difficult to trade, the price of flat water copper in the day is good to resist, the transaction is obviously biased to flat water copper, traders hold a discount of about 20 yuan / ton, the transaction is acceptable, except for a few low-end imported copper actively expand the discount, in order to increase
the amount of cash before the holiday 。 Copper futures are temporarily deadlocked, downstream willingness to receive goods and there is no obvious buying, maintain the rhythm of rigid demand, the price quotation maintains stability, most of the holders have gradually entered the settlement state, the number of dumpers has been greatly reduced, the last trading day before the National Day holiday, the settlement will be more concentrated, the market may appear priceless, enter the holiday mode
in advance.
In the afternoon, the market continued to fall slightly, and the holders unilaterally raised their quotations, but they were less willing to trade than in the morning, and there were few actual transactions
.
The main force of Shanghai copper closed three consecutive negatives, and the center of gravity also fell below the short green column of the previous day, the lower shadow pointed to the 5-day moving average, the green column body fell to the upper band of the Bollinger orbit, the MACD red energy column showed a weakening trend, and the KDJ tended to converge
.
Pay attention to the performance of long positions, the last trading day before the holiday, may still be dominated by reducing positions and hedging, testing whether the main force of Shanghai copper can support the 5-day moving average
.
