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On Monday, the main force of Shanghai copper 1708 opened to continue the overnight high pullback, once rebounded to 46540 yuan, but since then the price has been volatile all the way down to around 46250 yuan to stabilize narrow range, the afternoon copper price slightly retreated and then rushed to 45360 yuan at the end of the day, the afternoon price rebounded, once touched 46400 yuan, closed at 46370 yuan, up 620 yuan, or 1.
36%, index positions increased by 3824 lots to 575,000 lots
.
In terms of external trading, LME copper opened low at $5823 in the morning, fluctuated to $5825 at a high and began to fluctuate lower, stabilized slightly after $5793, and then tested a low of $5787 in the afternoon, and then rebounded slightly higher, and the price closed at $5801.
5 in the Asian market, down $28.
5, or -0.
49%.
In terms of the market, the market trading in the mainstream trading session in the morning is general, the copper price is high and pullback, the holders actively quote, and constantly adjust the price of shipments, the downstream performance is cautious during the day, on-demand procurement is the mainstay, the transaction is general, and the source of good copper continues to be favored
.
Among them, good copper b30-b40 yuan / ton, flat water copper b20-b30 yuan / ton, wet copper c50-c40 yuan / ton
.
In terms of news, recently benefited from China's strong import and export demand and copper inventory decreasing, coupled with the rebound of domestic commodity market bulls, the copper market rose sharply, but after entering the off-season, copper market demand weakened, while this week's Fed interest rate meeting suppressed the market, peripheral base metal prices mostly lower, the recent market volatility trend may intensify
.
From the futures disk point of view, Shanghai copper intraday gap broke through the downward trend line, but hindered by the pressure near the half-year line, the current KDJ, MACD once again golden cross, copper market may fluctuate at a high level, continue to pay attention to downstream procurement
.
