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On Monday, the main contract of Shanghai copper 1907 opened at 47800 yuan / ton, the opening price rose slightly to the intraday high of 47830 yuan / ton, and then the market was in a volatile downward trend, and 47740-47810 yuan / ton between the shock sorting, and then due to the bulls continued to reduce their positions, copper prices fell further below the 47700 yuan / ton mark
。 Due to the lack of market confidence, and the US dollar continued to maintain a high stabilization, copper prices came under pressure, and the afternoon continued to fluctuate downward to the lowest point of the day of 47620 yuan / ton, and after a slight rebound to 47690 yuan / ton, it closed at 47620 yuan / ton, down 260 yuan / ton, or 0.
54%.
In terms of external trading, Asian market, London copper opened high at 6070 US dollars / ton in the morning, opened higher than 6079 US dollars / ton, and then copper prices were suppressed by the strengthening of the US dollar, all the way failed to stop the decline, continued to fluctuate downward until entering the European market, the center of gravity fell to 6039 US dollars / ton around the shock finishing
.
Subsequently, after the copper price performance short-term tested the daily moving average, the bears continued to increase their positions, and the copper price fell straight down to 6017 US dollars / ton, as of 17:30, London copper reported 6026.
5 US dollars / ton, down 0.
52%.
In terms of the market, Shanghai copper fluctuated along
47,700 yuan / ton.
Morning market holders quotation premium 10 ~ 70 yuan / ton, although the market inquiry positive, but the morning market transaction is not active, about ten o'clock, traders into the market to receive, low price sources are favored, flat water copper concentrated transaction at 10 ~ 20 yuan / ton, good copper transaction in the premium 70 ~ 80 yuan / ton
.
In the afternoon, as the market price continued to fall, and due to the positive market trading during the day, the holders continued to raise their quotations
.
In the afternoon, flat water copper reported a premium of 30-40 yuan / ton, a good copper reported a premium of 90-100 yuan / ton, and the transaction price was in the range of 47650 yuan / ton - 47770 yuan / ton
.
Shanghai copper continued to close negative during the day, the following failed to hold the 5-day moving average, although the trade war sentiment eased slightly, but market confidence still needs time to recover, waiting for external guidance, testing whether Shanghai copper can hold the 47600 yuan / ton mark
.
