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On Thursday morning, the main 1906 contract of Shanghai copper opened at 49650 yuan / ton, shortly after the opening copper price tried to test higher, but rushed up to 49670 yuan / ton after obviously showing insufficient momentum, and then the bulls continued to reduce their positions, copper prices maintained a slow oscillation downward trend, until the end of the session gave up all last night's gap gains, tested down 49480 yuan / ton, closed at 49500 yuan / ton, down 40 yuan / ton, down 0.
08%.
In terms of the external market, the Asian market, London copper opened at 6541 US dollars / ton, after the opening around the daily moving average to do a narrow range, probing 6545 US dollars / ton, but then failed to maintain the daily moving average, bears entered the market, the center of gravity moved down to around 6527 US dollars / ton, the performance was under pressure on the daily average, and the overall performance amplitude at the end of the Asian session did not exceed 12 US dollars / ton
。 Entering the European market, copper prices began to slowly decline, since the release of the preliminary manufacturing PMI data of Germany and France for April in the afternoon showed weakness, failed to touch the boom and bust line, the weakening of the euro boosted the dollar upward, straight down to a low of 6426.
5 US dollars / ton, as of 17:00, London copper reported 6451 US dollars / ton
.
In terms of the market, the Shanghai copper range shock pattern remains unchanged, the morning holder spot continued the previous day's quotation, flat water copper quotation premium 30 ~ 40 yuan / ton, good copper quotation premium 130 ~ 140 yuan / ton, due to lack of response, the transaction is still deadlocked, in a blink of an eye to good copper premium 100 ~ 120 yuan / ton range, flat water copper 20 premium transaction has improved
.
The overall transaction within the day was not as good as the previous day, the market stalemate was prominent, and the supply and demand sides were still tug-of-war
.
Be wary of the gradual outflow of delivery warehouse receipts, which will have a certain drag on the firmness of spot
premiums.
In the afternoon, the price of the plate remained stable, the quotation of flat water copper remained stable, and the good copper traders slightly lowered the premium to stimulate the reception
.
In the afternoon, flat water copper reported flat water 30-liter water 40 yuan / ton, good copper reported 90-liter water 120 yuan / ton, the transaction price was in the range of 49490 yuan / ton - 49640 yuan / ton
.
