Domestic copper demand picks up, and copper prices are partially supported

In terms of external trading, Apanlon copper opened at 5904 US dollars / ton, Shanghai copper after the opening was suppressed by bears and quickly fell to the lowest point of the day of 5823 US dollars / ton, copper prices touched low and rebounded, the center of gravity moved up above the daily moving average, around 5875 US dollars / ton a narrow range of shock
.
In the afternoon session, dragged down by the decline in international crude oil, London copper briefly fell to 5856 US dollars / ton and then rebounded again, entering the European session, London copper continued to climb to test the highest point of the day of 5917.
5 US dollars / ton, and then fell back to 5900 US dollars / ton mark
.
As of 17:00, London copper closed at 5895.
5 US dollars / ton, up 0.
5 US dollars / ton, or 0.
01%.

In terms of the market, Shanghai copper continued to fluctuate at a high level at 47,700 yuan / ton
.
Although the morning market continued the previous day's spot premium of 180~190 yuan.
tons, but there is almost no transaction, the buying is weak, the financial pressure before the holiday makes the shipment of many cash-in-house, the holder is actively expanding the premium, flat water copper quotation to 160 ~ 170 yuan / ton, the lowest pressure price to 150 yuan / ton, good copper quotation to premium 170 yuan / ton There is room for pressure price, wet copper follows the market down to below 100 yuan / ton
.
In the last two days before the holiday, the shipment of holders was concentrated, the market supply was abundant, the market consumption was weak, the activity of the trade market was difficult to increase, and the downstream did not have the willingness to replenish a large amount before the holiday, still maintaining rigid demand, and the performance of the holders took the initiative to lead the reduction of premium transactions
.
In the afternoon, the performance of the market still fluctuated greatly, after testing down 47650 yuan, it rushed straight to 47900 yuan / ton line, and closed to the integer mark of 48000 yuan / ton, flat water copper premium 150-160 yuan / ton, good copper premium 160-180 yuan / ton, the transaction price raised to 47850-48070 yuan / ton
.

Shanghai copper rose mainly during the day, mainly due to the good news of global economic easing policy, last night the United States announced that the number of existing home sales in May was lower than the previous value, driving the US dollar index down during the day, positive copper prices; In addition, Japan announced that the June Markit composite PMI reading was higher than the previous value, and the Bank of Japan will provide 200 billion yen to buy corporate bonds to boost investor confidence, and optimism continued to rise
.
Fundamentally, the epidemic situation in South America is grim, there is uncertainty in mine supply, the market's concerns about the tight copper supply have not eased, and domestic copper demand is still picking up, which provides some support
for copper prices.
Shanghai copper closed in the sun, KDJ opening expanded, and there are still multiple moving averages below support
.
Wait for external guidance in the evening to test whether the bulls can once again support the Shanghai copper rally to the 48000 mark
.