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On Tuesday, the Shanghai copper 1609 contract opened at 37140 yuan / ton, with the fall of the US index and the sharp rise of the black series, Shanghai copper bulls were encouraged to increase their positions, pulling the copper price to 37260 yuan / ton, with the low rise of the US index, the bulls closed their positions profitably, the copper price fell, the low 36926 yuan / ton, the late copper price was pulled up again, closing at 37180 yuan / ton, up 380 yuan / ton, up 1.
03%.
In terms of external trading, London copper opened at 4744.
5 US dollars / ton, yesterday the UK determined the prime minister, market risk sentiment rebounded, the pound rose against the US dollar, European and American stock markets rose sharply, the US dollar fell, the Asian session London copper bulls increased sharply, copper prices extended the daily average to 4772 US dollars / ton, accompanied by a slight pullback in the US dollar, long profits closed, copper prices moved down, giving up most of the gains, the afternoon domestic A shares rose, black continued to rise, The pound soared to around 1.
31, the dollar instantly fell below the 5-day moving average, the low touched 96.
070, crude oil rose to 45.
58 US dollars / barrel, bulls heard the news to increase positions, the European session copper price straight up to 4810 US dollars / ton stabilized, as of 17:10, London copper reported 4814 US dollars / ton
.
In terms of the market, the Shanghai copper rebound was volatile, and the current copper premium was further expanded
.
Open good copper report premium 50 yuan / ton, flat water copper flat water - premium 10 yuan / ton
.
However, traders intend to take advantage of the full discount to receive goods, and it is difficult to buy when the downstream market is above 37,000 yuan / ton, so the overall market activity is weak
.
Before the first quarter of the market closed, the holders once again took the initiative to reduce the price of flat water copper to the discount, in order to attract downstream buyers
.
As a result, wet copper was reported to a discount of 80 yuan / ton, and the premium of good copper was reduced to about 30 yuan / ton, and the overall low-price source transaction was acceptable
.
In the afternoon, good copper rarely has a cheap quotation, the quotation is at a discount of 10 yuan / ton - 60 yuan / ton of premium, the transaction price is 36900-37140 yuan / ton, traders refuse to quote a low price, holding goods to rise mentality is obvious
.
In terms of news, the outcome of the South China Sea arbitration, China said that it will not accept or recognize it, will continue to safeguard China's sovereignty in the South China Sea, global risk sentiment has increased, and the copper market is expected to continue to fluctuate
.
