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On Friday night, the main 1908 contract of Shanghai copper opened low at 46720 yuan / ton, opened low 46660 yuan / ton, and then driven by the external disk, copper prices recovered, but the upper performance was blocked by the 47000 yuan / ton mark, short-term high 47020 yuan / ton, short into the market, copper prices shocked back, closed at 46830 yuan / ton, down 0.
04%
overnight.
Although today's spot market is close to long-term order delivery, it is expected to continue the stalemate pattern last week, the willingness of holders to sell goods for cash is weak, the market transaction heat is not high, pay attention to the import of copper into the market, is expected to put pressure on holders, forcing the reduction of premium
.
It is expected that today's Shanghai copper 46500-47000 yuan / ton, spot premium 20-liter 80 yuan / ton
.
In the spot market, today's market has next month's invoice quotation and transaction, but most large traders and smelters still adhere to the quotation of the current month's invoice, the transaction is still showing the characteristics of tug-of-war, and the downstream still maintains rigid demand
.
Investment bank Jefferies said in a report that copper market trading is currently looking forward to Sino-US trade agreements or new measures to stimulate economic growth in China, only in this way can copper prices break through the current weak pattern
.
