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Copper market review, Wednesday morning Shanghai copper main force 1905 months opened at 48400 yuan / ton, after the opening copper price performance shock, before the afternoon basically hovered above the daily moving average 48380-48460 yuan / ton range, during the beginning of the session affected by the external market, short positions reduced, copper price shock high 48510 yuan / ton, noon copper price slightly lower, fell below the daily average of 48360 yuan / ton nearby, tested down 48340 yuan / ton, then the price rose back above the daily moving average, the shock closed at 48400 yuan / ton line , closed at 48390 yuan / ton, up 130 yuan / ton, or 0.
27%.
South Reserve East China: The average price of electrolytic copper was 49280 yuan, up 80, and the price of the month's premium was 980 to 1050, down 20
.
East China: The market for the next month's ticket quotation increased, good copper premium higher transaction is not good, buyers favor the flat water and wet method of the month, then the seller sharply reduced the price of good copper to seek the transaction, after the price reduction, the good copper transaction slightly improved, the flat water quotation of the month was relatively firm, the next month's ticket quotation still has room for price reduction, and the 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 1050-1080 yuan, down 50 yuan from the previous day; flat water copper premium 980-1000 yuan, up 30; Wet copper premium 800-820 yuan, down 5
.
South China Reserve: The average price of electrolytic copper was 49290 yuan, up 50, and the price of the month's premium was 930 to 1100, down 60
.
Guangdong: The market atmosphere is lower than the previous day, there are not many quotations in the morning, still based on the monthly ticket, flat water copper maintained at about +1000 yuan / ton, good copper + 1100 yuan / ton or so, but the receiver waits and sees that it is difficult to have a transaction
for the time being.
In order to cash in the premium profit in time, some merchants sold the source of the month's ticket at a low price, a small amount of flat water copper was pressed to +900 yuan / ton to be sold, the overall flat water copper premium was pulled down to +920, +930 yuan / ton, good copper is +1000 yuan / ton or so
, in addition, there are some next month tickets in the market flat water copper discount of 150 yuan / ton for the month.
Overall, there is not much supply in the market, but at the end of the month, merchants want to cash in profits in time, and the demand side is less expensive, the premium is falling rapidly, and the trading performance is not as good as the previous day
.
During the day, Shanghai copper ranked first in the nonferrous sector capital outflow, with an outflow of 274 million
.
The main closing entity of Shanghai copper was supported by the lower band of the Bollinger curve as a whole, the upper shadow was elongated and adhered to the 60-day moving average, and the KDJ indicator J line turned down to up, and the technical picture improved
.
Wait for the guidance of the external market, continue to test whether the main force of Shanghai copper can break through the 48500 yuan / ton position
again.
