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On Wednesday, the main Shanghai copper contract 2001 opened at 46980 yuan / ton in the morning, and then ran above the daily moving average, and the center of gravity fluctuated in a narrow range in the range of 46980-47020 yuan / ton until the end
of midday.
In the afternoon, the center of gravity fell back to near the daily moving average, and remained stable at 46980 yuan / ton, and closed at 46980 yuan / ton at the end of the session, down 120 yuan / ton, or 0.
25%.
In terms of external trading, Apanlon copper opened at 5817 US dollars / ton, due to the bearish sentiment in trade in the morning, the center of gravity of the Asian session basically maintained at 5823 US dollars / ton, until entering the European market did not fluctuate
greatly.
At the beginning of the European market, copper prices were suppressed by the recent high risk aversion, and there was a short-term downward test, down to 5810.
5 US dollars / ton, but due to the subsequent release of European data, the US dollar was frustrated, copper prices took the opportunity to rise in a straight line, rushing up to a high of 5859.
5 US dollars / ton
.
As of 17:30, London copper closed at 5853.
5 US dollars / ton, up 0.
66%.
In terms of the market, Shanghai copper fell below 47,000 yuan / ton and continued to decline slightly to 46,900 yuan / ton
.
At the beginning of the month, the market funds were loose, imported copper entered the market was limited, and domestic inventories continued to decline, so that the willingness of holders to control goods and raise prices was further enhanced, and the early market opened with a good copper premium of 150 ~ 160 yuan / ton, flat water copper premium 140 ~ 150 yuan / ton; The flat water copper with a premium of 140 yuan / ton and the good copper source of 150 yuan / ton were quickly traded, and the morning market received enthusiastically, and the buying was promoted, and the holder raised the price at 150 ~ 160 yuan / ton
.
Around eleven o'clock, some traders took the lead in raising the quotation of 170 yuan / ton of copper premium, and flat copper premium of 160 yuan / ton, but the transaction activity is not as good as before
.
Wet copper followed up in the range of 60 yuan/~ 80 tons of premium
.
Traders once again led the market, downstream bargain hunting gradually increased, holders pushed up the water intention is not exhausted, the premium continues to rise in a stable pattern
.
In the afternoon, the holders continued to raise prices, because the low level of the plate price coupled with the recent import of copper continued to not see imports, the domestic spot quotation is easy to rise and fall, traders are willing to receive goods at low prices
.
Shanghai copper continued to remain low during the day, mainly because Trump changed his face again to trigger a global trade panic, market risk aversion heated up again, intraday CMX gold continued to rise to 1487 US dollars / ounce, a new high in nearly two weeks, while the current market focused on the OPEC+ meeting, the market's concerns about the demand side are still the main factors hindering oil prices to rise, Shanghai copper is affected by multiple factors difficult to stand high
.
