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Copper market review: Friday 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 49,900 yuan, down 300, and the monthly premium quotation: 970 to 1120, up 50
.
East China: The market is lower to attract downstream moderate purchases, some merchants are mainly wait-and-see after taking profits, shipments are slightly reduced, the premium is relatively firm, the market is still dominated by trading between traders, the premium trend continues to be guided by tax points, and the transaction performance is
acceptable.
At the close, the premium copper premium to the futures contract for the month was 1100-1120 yuan, up 40 yuan from the previous day; flat water copper premium 970-980 yuan, up 55; Wet copper premium 800-820 yuan, up 65
.
South China Reserve: The average price of electrolytic copper was 49810 yuan, down 230, and the monthly discount quotation: 900 to 1000, up 125
.
Guangdong: Near the end of the month, the market favors the source of bills for the month, and the competition is fierce, while merchants' quotations and shipments are scarce, and the tight supply pushes up spot
premiums.
In the morning, the flat water copper premium was reported at +850 yuan / ton, an increase of about 70 yuan from the previous day, and was quickly acquired
.
After the transaction, there is still trade in the receipt, and the merchant once again adjusted the price to +900, +950 yuan / ton, and the high-price transaction is
deadlocked.
In addition, after the opening, there were traders who inquired to close the copper, but the supply was less, and the premium was 1,000 yuan / ton sold
.
Overall, the willingness to receive goods is acceptable, but the merchants are willing to sell, the quotation has risen sharply, and the trading performance is deadlocked, which 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.
