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Copper market review, on Tuesday, Shanghai copper 1905 contract affected by the external market on Friday, continued to open lower at 48360 yuan / ton in the morning, opened high 48440 yuan / ton, the center of gravity in the morning is basically around 48400 yuan / ton, 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 electrolytic copper was 49200 yuan, down 120, and the price of the month's premium was 970 to 1100, down 30
.
East China: Morning holders tried to raise the price yesterday, but the market received few goods, then sellers cut the price of shipments, to close before the flat water reported to +950 yuan transaction, low-priced goods are still favored by the market, but most traders cautiously wait and see April, downstream receipts are limited, transaction performance is not as good as the previous day
.
At the close, the premium copper premium to the futures contract of the month was 1100-1130 yuan, down 25 yuan from the previous day; flat water copper premium 960-970 yuan, down 20; Wet copper premium 800-830 yuan, down 40
.
South China Reserve: The average price of electrolytic copper was 49240 yuan, down 90, and the monthly discount quotation: 1000 to 1150, flat
.
Guangdong: The market is still around the monthly ticket quotation, the willingness to ship is increased compared with the previous day, the mainstream of flat water copper in the morning is +1000 yuan / ton, and the downstream bargain purchase is acceptable, the monthly ticket flat water copper began to be traded at +1000 yuan / ton, and a small amount of the next monthly ticket flat water copper + 0 yuan / ton was traded
.
After some downstream demand was satisfied, the market fell into a stalemate, and the holders slightly lowered the price of copper to +980 yuan / ton
.
Good copper is not much in supply, about 1150 yuan / ton of premium, and a small amount of scattered good copper is relatively cheap
.
Overall, the market supply and demand performance is acceptable, better than the previous day
.
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.
