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On Thursday, the price of the main 1709 month contract of Shanghai copper rebounded after the open, once rushing to near the overnight opening price in the afternoon, but in the afternoon with a sharp plunge in the black series, the price fell from the high, and then the copper price maintained a wide range, rushing to 47790 yuan before the end of the day, and the closing was still under pressure to fall
.
The close closed at 47,790 yuan, flat, and the index position decreased slightly by 2,182 lots to 609,000 lots
.
Externally, LME copper fell slightly to around $5,958 after the opening in March, and the price rebounded after the Asian market opened, once rising to $5,988.
5, after which the price fell back to near the flat market, and the price fluctuated widely in the afternoon, rushing to $5,993.
5
.
The final price closed at $5,982, up $16, or 0.
27%.
In terms of the market, the market trading in the mainstream trading session in the morning is general, the holders actively quote, and the intraday price is basically stable, due to the upstream smelter control shipments, the holders hold up the price shipment, the downstream more looking for low-priced sources, on-demand procurement, the market trading is stable
.
At present, the premium discount is narrowed, with copper C40-C30 yuan / ton, flat water copper C70-C60 yuan / ton, wet copper C100-C90 yuan
.
In terms of news, the Peruvian copper mine strike began, and the copper price in the support period rebounded at a low level in the morning, but in the afternoon, in the context of the sharp reduction of black positions, the copper market rebound is difficult to sustain, bulls try to exert force but helplessly finally close flat, but the current market bullish sentiment has not abated, and the support below is obvious
.
From the perspective of futures, Shanghai copper rebounded slightly to the 10-day moving average during the day, strong support below, MACD, KDJ continue to double golden cross, it is expected that short-term copper prices will be ready to wait for further upward breakthrough, continue to pay attention to downstream procurement
.
