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Copper market review, Thursday morning Shanghai copper main force 1905 months opened at 48350 yuan / ton, after the opening copper price narrow range oscillation, repeatedly downward test the daily average, then performance and fall outside the market, long position reduction, down to test the low of 48310 yuan / ton, and around the daily average narrow range sorting, copper prices open the rally mode, all the way to the upward shock, until the afternoon to test the high of 48460 yuan / ton, but the price failed to stabilize at the high, the center of gravity fell back to 48420 yuan / ton around oscillation, The oscillation range remained at 48400-48430 yuan / ton until the close of 48360 yuan / ton, down 20 yuan / ton, or 0.
04%.
South Reserve East China: The average price of electrolytic copper was 49390 yuan, up 110, and the price of the month's premium was 1100 to 1220, up 145
.
Downstream procurement in East China improved slightly, holders shipped at high prices, buyers were cautious and wait-and-see, good copper sources were slightly in short supply, and the premium was rising rapidly, and the market was weak at the end of the month, but sellers' willingness to reduce prices was low, and the transaction remained
deadlocked.
At the close, the premium copper premium to the futures contract for the month was 1220-1250 yuan, up 170 yuan from yesterday; flat water copper premium 1080-1100 yuan, up 100; Wet copper premium 900-920 yuan, up 100
.
South China Reserve: The average price of electrolytic copper was 49250 yuan, down 40, and the monthly discount quotation: 950 to 1100, up 10
.
Guangdong: There are fewer market shipments, the quotation is not active, turn to the next monthly ticket quotation, the colder the demand for the monthly ticket, some merchants sell at a low price + 900 yuan / ton, in order to cash in on the premium profit in time, and there is a small number of transactions
.
At present, the next month's ticket quotation is not uniform, the difference is large, the merchants each report the current month's discount of 100 yuan or flat water, but the next month's ticket flat water copper is still around the discount of about 100-130 yuan / ton transaction
.
In addition, good copper circulation is more rare
.
Overall, the willingness to receive goods is acceptable, the demand for monthly passes is mainly flat water copper, but the supply is not much, the price of some sources is firm, the low-price transaction is relatively smooth, and the overall transaction performance is average
.
During the day, the main force of Shanghai copper continued to maintain pressure on the recent daily moving average, and the lower band of the Bollinger curve was stabilized below, and the green column of the MACD indicator turned to narrow
.
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
.