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On Tuesday morning, the main 1906 contract of Shanghai copper opened at 49180 yuan / ton, and the copper price performance after the opening slowly corrected, stopping at 49100 yuan / ton, above this level showed a narrow range, and then affected by the external market, copper prices began to recover, but the recovery was slow, and the afternoon was higher than 49200 yuan / ton
.
Subsequently, the performance of the plate basically fluctuated around the daily moving average of 49160 yuan / ton, and the bulls reduced their positions actively at the end of the session, and copper prices once again tested lower at 49080 yuan / ton, closing at 49160 yuan / ton, down 220, or 0.
45%.
In terms of external trading, Asian market, London copper opened low at 6439 US dollars / ton in the morning, slowly recovered after the opening, trying to make up for the opening gap, reached the intraday high of 6454 US dollars / ton in the afternoon, and then suppressed by the strengthening of the US dollar, copper prices failed to maintain stability at a high level, the shock fell back, and bears entered the market, resulting in London copper entering the European market after touching 6426 US dollars / ton, after the low shock correction and sorting, copper prices rose back to near the daily moving average, as of 17:00, London copper reported 6438 US dollars / ton
.
In terms of the market, the center of gravity of Shanghai copper declined, and the weak shock
around 49100 yuan / ton was weak.
The morning market quotation is the same as the previous day's quotation at 10 yuan ~ 110 yuan / ton, continuing to be
deadlocked.
The market is still unresponsive, the inquiry atmosphere is also weak, the holder took the lead in relaxing the flat water copper quotation, since the premium 10 yuan / ton to the discount of 10 yuan / ton and there is still room for price pressure, good copper reduction is limited, maintain the premium of about 90 yuan / ton quotation, the holder has no intention of expanding the wet copper discount, and yesterday's stability maintenance is flat at the discount of 70 ~ 40 yuan / ton
.
The weak characteristics of the copper plate are obvious, the spot market performance is weaker, not only the downstream receiving force is weak, speculation is also cautious, all near-month contracts continue to have almost no spread, the market only sees that the selling of cash is many and concentrated, the opening of the discount situation is difficult to attract and support, consumption is weak and difficult to mention, waiting for the plate can break the deadlock, enhance the enthusiasm of
trade speculation.
There were few large fluctuations in the afternoon, and the price difference between contracts was still unchanged, which inhibited traders' desire to speculate, and the downstream waited for low-priced replenishment, and the market was light
.
Crude oil has been strong recently, and we expect crude oil to help
.
Wait for guidance from the dollar and crude to test whether London copper can hold the $6450/mt level
.
During the day, the Shanghai copper main force closed above the positive solid column elongated the upper shadow, under pressure 20-day moving average, MACD indicator showed green energy column elongation, disk performance light pattern
.
Wait for the guidance of the external market to test whether the main force of Shanghai copper can hold the position
of 49,000 yuan / ton.
