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On Monday morning, the main 1905 contract of Shanghai copper opened low at 49120 yuan / ton, and the opening was guided by the recovery of the external market, the copper price smoothly rose above 49200 yuan / ton, and then the rise slowed down, and the performance around 49360 yuan / ton stagnated, after this correction, the center of gravity fell to around 49310 yuan / ton, until noon, the performance moved
down again.
At noon, due to the long position reduction, the copper price short-term down to a low of 49220 yuan / ton, and then the copper price basically remained stable around the daily average of 49280 yuan / ton, closing at 49260 yuan / ton, down 220 yuan / ton, down 0.
44%.
In terms of external trading, Asian market, London copper opened at 6407.
5 US dollars / ton, after the opening due to the weekend Sino-US trade sentiment positive impact, copper prices rose rapidly, in the morning has tested 6466 US dollars / ton, but then failed to continue to maintain stability at the high, copper prices slowly declined, the afternoon copper price has fallen below the daily average of 6445 US dollars / ton
。 Then into the beginning of the European market, copper prices around the daily moving average to do 6440-6460 US dollars / ton range oscillation, as the dollar fall, copper price center of gravity performance broke through the daily average upward, testing higher 6470 US dollars / ton, as of 17:30, London copper reported 6461.
5 US dollars / ton
.
In terms of the market, the Shanghai copper festival fell back after the opening of the market, and it was sorted
out around 49,200 yuan / ton in the morning.
The market supply is abundant, the willingness of the holders to exchange cash is urgent, the morning market quotation is high at the premium of 50 ~ 180 yuan / ton, it is difficult to have a transaction, the holder is eager to exchange cash at the high and take the initiative to reduce the quotation, good copper is reduced to about 150 yuan / ton, flat water copper drops to around 30 yuan / ton before gradually starting to trade
.
The willingness to exchange cash in the market is still dominant, and the characteristics of oversupply are still obvious, but this week will approach delivery, the current next month price difference is still around 100 yuan, spot premium quotations have approached the delivery level, and the space for further decline may be limited
.
In the afternoon, the market was slightly lowered, and the holders maintained active shipments, and the good copper quotation was close to the price difference of 120 yuan / ton of the plate contract, but the current market good copper accounted for a small proportion, the quotation was basically stable here, traders and downstream buying willingness was low, and the market transaction remained light
.
