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On Wednesday, the main 1811 contract of Shanghai copper opened at 47740 yuan / ton in the morning, and the center of gravity of copper prices at the beginning of the session moved down, slowly falling back to the lowest of 47550 yuan / ton in the day, entering the second trading session, copper prices fluctuated repeatedly above the daily moving average, and the center of gravity moved up to around
47690 yuan / ton.
In the afternoon, more into the short flat, copper prices touched 47870 yuan / ton blocked, after a short consolidation under pressure to fall, closed at 47730 yuan / ton, down 20 yuan / ton, down 0.
04%.
In terms of external trading, London copper opened at 5886 US dollars / ton, at the beginning of the day London copper narrow range, then the center of gravity moved down, slowly fell back to the lowest of the day of 5851.
5 US dollars / ton, before the afternoon of the Asian market, the US dollar fell slightly, copper prices slowly climbed to around
5878 US dollars / ton.
In the afternoon, copper prices fluctuated repeatedly, the center of gravity moved up to 5890 US dollars / ton, into the European trading session, the US dollar index fell from above 95.
28, copper prices first straight up, and then sharply touched the highest of the day of 5978 US dollars / ton, and now fell slightly to around
5930 US dollars / ton.
As of 17:30, London copper was trading at $5924.
85 / ton
.
In terms of the market, Shanghai copper relies on a narrow range above the daily moving average, and the profit of the import window remains stable at about
500 yuan / ton.
In the morning, the quotation was stable and the quotation was flat water ~ 40 yuan / ton, the trader pressed the price, and the transaction atmosphere was slightly deadlocked, so the holder lowered the quotation, the trader received the goods at a low price, and the market low-price source was quickly collected
.
At about 11 o'clock, it has been heard that the flat water copper rose to 30 yuan / ton, and the good copper quotation rose 50 yuan / ton, but the transaction was far less than the morning market, and the wet copper maintenance quotation was 60~30 yuan / ton, and the downstream maintained rigid demand
.
The intraday market was blocked by 48,000 yuan / ton, and the low-priced source of goods was still favored by traders, and the market was also dominated
by traders.
Pay attention to the guidance
of changes in the intraday spread.
In terms of news, Peru announced the launch of a new copper project, the second major mining investment in 6 weeks, the US$1.
6 billion Mina Justa project in the southern coastal region of Ica, which will produce 102,000 mt/year of copper concentrate from 2020; At present, the global trade war and political game are escalating, the emerging market crisis has no signs of alleviation, if the situation in emerging markets deteriorates, the global market may be hurt, and in the short term there are still repeated macro impacts, copper prices or maintain a volatile trend
.
