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On Thursday morning, the main 1905 contract of Shanghai copper opened at 48350 yuan / ton, after the opening copper price fluctuated in a narrow range, repeatedly tested the daily moving average, and then the performance followed the fall outside the market, the bulls reduced their positions, fell to test the low of 48310 yuan / ton, and around the daily average narrow range, copper prices opened a rally mode, all the way upward, until the afternoon to test the high of 48460 yuan / ton, but the price failed to stabilize at a high level, the center of gravity fell back to 48420 yuan / ton around oscillation, the shock range remained at 48400-48430 yuan / ton, Until the close of 48360 yuan / ton, down 20 yuan / ton, down 0.
04%.
In terms of external trading, Asian market, London copper opened at 6335 US dollars / ton, the opening was affected by the recent rise of the US dollar, copper prices quickly fell to a low of 6317 US dollars / ton, after the short-term downward, because the US dollar fell slightly, copper prices rebounded all the way, oscillating around 6340 US dollars / ton at noon, stopping for a while
.
Then entered the European session, copper prices continued to rise, the European market has touched a high of 6369 US dollars / ton, and maintained high volatility
.
As of 17:00, London copper was trading at $6363.
5/ton
.
In terms of the market, Shanghai copper continued to fluctuate in the range of 48200 ~ 48300 yuan / ton, the last two trading days before the end of the month, the holder's mentality is stable, there is no rush to exchange cash, the quotation is more and more firm, the morning market good copper quotation premium 1250 yuan / ton, flat water copper 1100 ~ 1150 yuan / ton, the inquiry atmosphere is light, the transaction is calm, only slightly loosened after 10 o'clock, good copper slightly reduced to 1220 yuan / ton, flat water copper can be pressed to 1080 yuan / ton transaction, wet copper around the premium 920 yuan / ton / ton, downstream replenishment is also decreasing
.
Towards the end of the month, in order to avoid disputes and conflicts between supply and demand on invoices, the market transaction has obviously weakened, and the quotation has been stable
.
Some speculators turned to the source of next month's invoices in advance, but the market next month's invoice performance is still unstable, good copper premium 50 ~ 100 yuan / ton, flat water copper discount 60 yuan / ton ~ discount 20 yuan / ton, the receiving group is small, everyone is still cautious
.
In the afternoon, the market quotation became more and more quiet, due to the confusion of the market for the next month's ticket quotation, the downstream waited for the monthly quotation to stabilize and then took the goods, and the willingness of the holder to ship was weak, so the quotation remained high
.
Intraday Shanghai copper overall in the shock adjustment pattern, London copper is still at a high level, this round of finishing rebound is difficult to have greater momentum, turn to the US dollar index is still relatively strong, Shanghai copper main force at 48500 still has greater pressure, is expected to be volatile at the pressure level is empty, but in the case of the imminent recovery of refined copper or no greater downward momentum
.
