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On Thursday, the main contract of Shanghai copper 1912 opened at 47100 yuan / ton in the morning, and after the opening, it fell to the lowest level of the day at 47060 yuan / ton, and then all the way up, the center of gravity remained stable around 47130 yuan / ton, until the noon close, the afternoon opening bears continued to reduce their positions, copper prices all the way up to the highest level of the day 47219 yuan / ton, the end of the session slightly slipped and closed at 47150 yuan / ton
.
In terms of external trading, Apanlon copper opened at 5885 US dollars / ton, the overall fluctuation after the opening was not large, the center of gravity in the morning was basically stable around 5890 US dollars / ton, the amplitude did not exceed 12 US dollars / ton, and there was a low of 5884 US dollars / ton
at noon.
Subsequently, entering the European market, due to the Chinese Ministry of Commerce and the United States trade negotiations were good, the market risk aversion cooled significantly, copper prices were affected by this rapid upward rush, soon stood firm at the $5900 mark, testing 5963.
5 US dollars / ton
.
As of 17:30, London copper closed at $5959.
5/ton, up 1.
25%.
In terms of the market, overnight Shanghai copper high gave up part of the gains, based on 47,000 yuan / ton above hovering sorting, morning market holders flat water copper quotation premium 80 yuan / ton, good copper premium 100 ~ 110 yuan / ton, good copper more than 100 yuan is still lack of interest, soon took the initiative to drop to 90 ~ 100 yuan / ton, activity is still difficult to improve
。 Pingshui copper by traders active inquiry, was pressed to the premium of about 70 yuan / ton, about 10 o'clock once in the premium 60 ~ 65 yuan / ton level to attract traders to receive the willingness, after the second trading session, flat water copper less than 70 yuan / ton of the source of goods has been difficult to find, downstream in the case of copper prices fell more than 200 yuan, slightly increased the purchase volume, wet copper is mostly traded in the flat water ~ liter 20 yuan / ton range
。 Although Shanghai copper has a pullback, the market generally holds a cautious bearish view on the future market, the price difference in the next month remains in the range of 70~80 yuan / ton, and the premium pattern of more than 100 yuan in the first half of the week shows that the pressure of cash exchange is also expected, but traders' willingness to reduce prices at low premiums to replenish remains unchanged
.
In the afternoon, due to the positive performance of the market low-price receipt, the holders took the opportunity to raise prices, and in the afternoon, the market was difficult to find low-priced sources, and the transaction returned to stalemate
again with the recovery of the student.
The intraday market showed a low rebound, mainly due to the recent economic data of many countries, the euro area retail sales data in September also exceeded expectations, macro sentiment is still good, supporting copper prices to return to the 47200 yuan / ton mark today
.
China and the United States released good news again, saying that as the agreement progressed to cancel tariffs in phases, Shanghai copper is expected to continue to rise
.
