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On Thursday, the main 1901 contract of Shanghai copper opened at 49430 yuan / ton in the morning, the copper price at the beginning of the session along the daily moving average narrow range, more pressure on the daily average, London copper slightly strengthened, Shanghai copper bears left the market, copper prices quickly climbed above the daily average intraday high of 49580 yuan / ton was blocked to fall, copper prices fluctuated downward to below the daily average of 49435 yuan / ton line, the second trading session, more into the short flat, copper price shock upward to above the daily average, during the high of 49600 yuan / ton was blocked to fall
。 In the afternoon, the high bulls took profits to leave the market, the bears entered with their positions, copper prices gave up all the gains of the day, quickly fell back to the lowest of the day of 49310 yuan / ton, bargain A large number of short profits exited, copper prices fluctuated upward to above the daily average of 49510 yuan / ton blocked, and then along the daily average wide range oscillations repeatedly, more pressure on the daily moving average, closed at 49370 yuan / ton, down 130 yuan / ton, down 0.
26%.
In terms of external trading, during the Asian session, London copper opened at 6152 US dollars / ton, in the morning around the daily moving average narrow range, the shock range in the range of 6151-6170 US dollars / ton, during the copper price peaked the intraday high of 6170 US dollars / ton, and then the noon US dollar index continued to maintain a strong trend, copper prices under pressure, quickly fell to 6133 US dollars / ton, at the end of the Asian session, copper prices fluctuated slightly higher to 6161 US dollars / ton was blocked from falling, during the European session, copper prices were again suppressed by the strong upward trend of the US index, The shock fell back to $6084.
5/mt
.
As of 17:40, London copper was trading at $6084.
5/ton
.
In terms of the market, Shanghai copper fluctuated around the daily moving average, and the copper price hovered at 49,500 yuan / ton during the day, and the basis maintained a fluctuating price difference
of about 80 yuan / ton in the next month.
Morning market holders tried to further pull up the premium, the quotation rose to 70 ~ 100 yuan / ton, due to the lack of buying, the overall market transaction hesitation, the performance was abnormal stalemate for nearly half an hour, the holder took the initiative to lower the quotation, good copper took the lead to reduce the premium to 90 yuan / ton, flat water copper down to 60 yuan / ton
。 Due to the high premium, after exceeding the price difference of the next month, the holders have enthusiastically shipped goods, showing obvious characteristics of oversupply, and some holders who are eager to trade will reduce the flat water copper to 50 yuan / ton of premium, the quotation of good copper has also been reduced to 80 yuan / ton of the first line, wet copper from 30 yuan / ton discount to 60 yuan / ton, some low-end imported copper has a lower quotation
.
Downstream to maintain rigid demand, traders' buying enthusiasm significantly decreased compared with yesterday, because copper prices are currently showing a volatile pattern, it is difficult to form a breakthrough market, arbitrage also lacks space, there is still a week before the delivery expiration, but the premium has shown the delivery level, and the high premium transaction is obviously suppressed
.
The Shanghai copper index inflow of 40.
24 million yuan during the day, ranking first
in the inflow of funds in the nonferrous sector.
The main force of Shanghai copper closed four consecutive negative, the center of gravity fell back to near the 10-day moving average again, but sitting on the 40-day moving average, KDJ opened its mouth to expand downward, pay attention to the short position increase, wait for external guidance, test whether the center of gravity of Shanghai copper continues to fall back to near
the 40-day moving average.
