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On Thursday, the Shanghai copper 1609 contract opened at 37310 yuan / ton, after the opening of Shanghai copper first slightly lower to 37260 yuan / ton, and then driven by the surrounding market, the bulls actively entered the copper price was pulled up to 37690 yuan / ton, but as the dollar continued to rise to 95.
922, the bulls took profit to close the copper price back to test the support of the daily moving average, confirmed the support and bounced up again, and the late correction closed at 37530 yuan / ton, up 270 yuan / ton
.
In terms of external trading, London copper opened at 4847 US dollars / ton, during the Asian session, London copper first slightly tested low to around 4825 US dollars / ton, China's commodities rose collectively, bulls actively increased positions to drive copper prices, London copper's center of gravity moved up, touched 4865 US dollars / ton, and then long profit orders have flowed out, London copper straight down to 4830 US dollars / ton stabilized, as of 17:30, London copper reported 4837 US dollars / ton, down 4 US dollars / ton
.
On the macro front, the ECB is not eager to ease policy but waits for clarity on the impact of Brexit as markets rebound, with the IMF saying it could cut Germany's growth forecasts
in the coming weeks in light of Brexit.
China's Beige Book said China's economic growth picked up in the second quarter, but it may not be sustainable in the future, and whether China can maintain the painful rebalancing process is the focus of
attention.
In terms of the market, Shanghai copper continues to open low and go all the way forward, Thursday is the last trading day of June, some holders of quotations and shipments are positive, especially good copper has been reduced to a premium of 20 yuan / ton -30 yuan / ton, compared with flat water copper transaction is still tired and difficult to mention, high-quality and cost-effective flat water copper at first still up the price of flat water - 10 yuan / ton, but can not resist the low-end flat water copper has seen a small discount quotation, and good copper rise pressure, so that some high-quality flat water copper temporarily retreated, the transaction is still mostly a small number of traders with financial ability, Charge a low-priced source
.
In the late afternoon, copper around 37500 yuan / ton oscillation, temporarily pushing up the rising rate, the market discount flat water copper supply has been difficult to find, good copper to maintain a premium of 20 yuan - 30 yuan / ton, the transaction price hovered at 37450-37600 yuan / ton, in the afternoon most of the enterprises entered the settlement state, traders wait for tomorrow to change the month after continuing to rise to the state
.
On Thursday, the domestic copper market rushed high after the high volatility, high bulls profit is more obvious, Friday will release PMI data, it is estimated that the market will have a certain volatility, it is expected that Shanghai copper will consolidate at a high level around 37,500 yuan / ton, above the opportunity to challenge the 38,000 yuan / ton line
.
