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On Wednesday, the main contract of Shanghai copper 2003 opened at 48680 yuan / ton in the morning, which opened at a low level, and then rose rapidly to the highest point of the day of 48970 yuan / ton, and then copper prices continued to rush high with insufficient momentum, briefly tested high and quickly fell back until the end of midday; In the afternoon, the center of gravity as a whole fluctuated around 48830-48910 yuan / ton until the close, and closed at 48860 yuan / ton, down 20 yuan / ton, or 0.
04%.
In terms of external trading, due to the continuous fermentation of geopolitical issues in the United States and Iran in the morning, the market risk aversion soared, safe-haven assets opened sharply higher in the morning, suppressing copper prices, London copper jumped low at 6122.
5 US dollars / ton in the morning, bottomed out at 6115 US dollars / ton after the opening, and gradually revised up after the morning open, until the price center of gravity basically maintained at 6170 US dollars / ton
at noon.
Subsequently, entering the European market, copper prices remained volatile, reaching a high of 6190.
5 US dollars / ton
.
As of 17:00, London copper closed at $6174.
5 / ton, up 0.
02%.
In terms of the market, Shanghai copper under pressure fell slightly 48600 yuan / ton on the first line, the morning market quotation premium 50 ~ premium 70 yuan / ton, but the transaction market conditions are more difficult to open the situation, the holder lowered the flat water copper quotation in the premium 30 ~ premium 40 yuan / ton, after the transaction has improved, it is temporarily difficult to show a lower premium price, good copper is reported at about 50 yuan / ton, once some sources of goods can be pressed down to 40 yuan / ton
。 There are many dumpers in the intraday market, it is difficult for premium quotations to attract trade speculators, traders expect a lower supply, although there is a bargain replenishment downstream, but it is still difficult to reverse the situation of oversupply, and the willingness of traders to ship for cash before the Spring Festival will become increasingly obvious
.
Trading sentiment continued to weaken in the afternoon, and as there were few receivers, holders continued to maintain a downward pace of shipments
.
In the afternoon, flat water copper reported a premium of 10 - 20 yuan / ton of water, a good copper report of 30 - a premium of 40 yuan / ton, and the transaction price was in the range of 48640-48700 yuan / ton
.
Shanghai copper as a whole maintained a shock pattern within the day, the center of gravity hovered around 48,900 yuan / ton, mainly because the situation between the United States and Iran has deteriorated and escalated, Iran carried out retaliation against the United States in the day, launched a number of rockets to the US joint air base in Iraq, and the United States also maintained vigilant actions
.
The heated situation in the United States and Iran led to a sharp increase in market risk aversion, and the CMX gold price soared to $1613 / oz, and copper prices were affected by the weakness of higher prices
.
