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Copper market review: On Monday, the Shanghai copper 1905 contract was affected by the external market on Friday, and continued to open lower at 48360 yuan / ton in the morning, opening higher at 48440 yuan / ton, and the center of gravity in the morning basically revolved around 48400 yuan / ton, and the price fluctuated in the range of 48340-48440 yuan / ton
.
Until near noon, copper prices began to show slow volatility to the downside
.
In the afternoon, bulls continued to reduce their positions, and copper prices maintained a decline until the end of the session to test a low of 48110 yuan / ton, closing at 48120 yuan / ton, down 960 yuan / ton, down 1.
96%.
South Reserve East China: the average price of electrolysis was 49320 yuan, down 580, and the price of the month's premium was 1000 to 1130, up 20
.
East China: In the last week of March, there was still room for the difference between the premium and the tax point, and the holders shipped at a high price, but more traders said that they only wanted to earn the premium, and the real holding until April was less, and then the premium was slightly pulled, and the downstream maintained just need to purchase, and the transaction performance was slightly better than last Friday
.
At the close of trading, the premium copper premium to the futures contract for the month was 1130-1150 yuan, the flat copper premium was 960-1000 yuan, and the wet copper premium was 850 yuan
.
South China Reserve China: The average price of electrolytic copper was 49330 yuan, down 480, and the price of the month's premium was 1000 to 1150, up 125
.
Guangdong: The market fell sharply, and merchants' enthusiasm for shipments was low, and spot premiums continued to rise
sharply.
In the morning, Pingshui copper reported +950 yuan / ton, and soon raised to +1000 yuan / ton, with a small number of transactions
.
There are not many downstream purchases in the market, which is cautious, while traders are also afraid of heights and wait and see, and trading is deadlocked
.
Some merchants have the need to exchange cash to start adjusting the price of shipments, and the lowest transaction of flat water copper is +950 yuan / ton; Good copper +1150 yuan / ton or so
.
After eleven o'clock, the plate dipped again, and under the relative chaos, the downstream receiving was still not good, and the market trading atmosphere was light
.
The main force of Shanghai copper closed negative during the day elongated, fell below the 60-day moving average and the lower band of the Bollinger band, and formed a gap above, forming a strong pressure
above the technical copper price.
Wait for the guidance of the external market to test whether the main force of Shanghai copper can hold the position
of 48100 yuan / ton.
