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On Wednesday, the main 1811 contract of Shanghai copper has jumped high overnight, opening at 50460 yuan / ton in the morning, long positions were reduced at the beginning of the session, copper prices quickly touched the lowest 50390 yuan / ton in the day, and then sorted out in a narrow range around 50520 yuan / ton
.
In the afternoon, bulls took profits and left the market, a large number of bears entered with positions, the center of gravity of copper prices moved down, and the low of the day was once again blocked by 50390 yuan / ton, and the end continued to be in a narrow range of 50455 yuan / ton below the daily moving average, closing at 50530 yuan / ton, up 350 yuan / ton, an increase of 0.
7%.
In terms of the external market, London copper opened at 6276.
5 US dollars / ton, at the beginning of the session, London copper along the daily moving average narrow range, and then along the daily moving average oscillated repeatedly, into the second trading session, long positions increased, London copper's center of gravity continued to rise
.
In the afternoon, copper prices touched 6300 yuan / ton, and then sorted
out in a narrow range along 6295 US dollars / ton.
In the afternoon, London copper fell, fell below the daily moving average, and tested the intraday low of 6263.
5 US dollars / ton, entering the European session, London copper fluctuated
along the daily moving average.
As of 17:40, London copper was trading at $6281.
5/ton
.
In terms of the market, Shanghai copper along the 50,700 yuan / ton a line of narrow finishing, close to the holiday, holders hedging inventory, morning market quotation premium 10 ~ premium 50 yuan / ton, but the holder showed a clear mood of selling goods for cash, in the case of weak sales of concentrated transactions, flat water copper took the lead to reduce to a discount of about 20 yuan / ton, good copper quotation reduced to a premium of 30 yuan / ton
.
But a bunch of small and medium-sized traders who can't stand the rush to become an exchange, the flat water copper is reduced to a discount of 40~30 yuan / ton, good copper is dragged down to a premium of 10~20 yuan / ton, the transaction is still difficult
.
In the second trading stage, there was another tide of price reduction, and the market quotation was fully
discounted.
Downstream consumption is still cautious, there is no concentrated replenishment before the holiday, and buying is very limited
.
The copper plate is high, the basis of the next month is still in the range of 130~150 yuan / ton, there are only 3 trading days left before the holiday, the willingness to exchange is still dominant, and the discount still has the possibility of
expansion.
The main force of Shanghai copper has jumped high overnight, and it has been narrowly sorted out below the daily moving average during the day, but the overall center of gravity has risen to another level, and although the two days closed negative, the closing entity has crossed the high of 50,540 yuan / ton
since the end of July.
Continue to pay attention to the outflow performance of the warehouse, and test whether the main force of Shanghai copper can break through the 51,000 yuan / ton mark
before the holiday.
