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On Monday, the main force of Shanghai copper opened at 43560 yuan / ton in the morning, and after the opening, the bulls increased their copper prices straight up to 43800 yuan / ton, and maintained the rally, rushing to the highest point of the day of 43950 yuan / ton, and then maintained a narrow range
around 43860 yuan / ton.
In the afternoon, the copper price gave up its gains, closing at 43750 yuan / ton
at midday.
Copper prices continued to fall at the opening of the afternoon, giving up all the gains in the day, and finally closed at 43,500 yuan / ton, and are currently up 170 yuan / ton, or 0.
39%.
In terms of external trading, Apanlun copper gapped at 5309 US dollars / ton, up 10 US dollars / ton after the opening, and after the opening of Shanghai copper, London copper rose rapidly, the highest rushed to 5370 US dollars / ton
.
At this time, the high bulls took profits and left the market, superimposed on the short positions to increase positions, copper prices fell
all the way.
Copper accelerated its decline in the European session, falling to $5,280 / ton, giving up all the gains of the day and keeping the previous day's closing price
.
As of 17:00, London copper closed at $5285/ton, up $4.
5/ton, or 0.
09%.
In terms of the market, this week is close to delivery, but the price difference in the next month has expanded to 200~220 yuan / ton, the premium has been difficult to top, the number of cash dumpers has increased, the willingness to trade speculation has decreased, the downstream fear of heights, and the state of oversupply highlights that the spot premium may quickly slide into a discount pattern
before this week's delivery 。 In the afternoon, the high level of the market fell, giving up the intraday gains, returning to the morning market opening 43750 yuan / ton line, the contract of the month accelerated to close the position, the next month price difference maintained at about 210 yuan / ton, the holder in order to be able to smoothly cash continue to lower the quotation, flat water copper has fully shown the discount quotation, but it is still difficult to attract buyers, flat water copper quotation discount 20 yuan ~ flat water, good copper quotation flat water ~ liter 20 yuan / ton, the transaction price fell back to 43740 ~ 43920 yuan / ton
.
China's central bank released the "First Quarter Monetary Policy Implementation Report", which brought a signal that more stimulus policies may be introduced to support the economic recovery
.
Many countries in Europe and the United States have successively restarted their economies, Australia announced the gradual lifting of the "three-phase" lockdown, and the United Kingdom issued an anti-epidemic roadmap and plans to gradually relax relevant measures
.
The relaxation of restrictions on epidemic prevention measures and the easing of Sino-US relations have further warmed up market risk appetite
.
The main force of Shanghai copper soared during the day, mainly because the macro environment continued to improve
.
After that, the main force of Shanghai copper faced the gap in the early stage, short profit exit, short short test short, insufficient upward momentum, copper prices showed a rush back down
.
