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Copper market review: On Monday, the Shanghai copper 1904 contract opened at 50180 yuan / ton in the morning, after the opening copper price performance shock high 50240 yuan / ton, after the short-term high, copper price slightly touched 50110 yuan / ton, and then the center of gravity basically maintained stability around 50150 yuan / ton, narrow range shock consolidation
.
Until the afternoon, affected by the external market, a large number of bears closed their positions, copper prices showed a one-way sharp rise, the end of the session to test 50560 yuan / ton, closed 50500 yuan / ton, up 240 yuan / ton, up 0.
48%.
South Reserve East China: the average price of electrolytic copper is 50,020 yuan, up 140, and the price of the month's premium is -80 to 0, up 50
.
East China: Downstream consumption improved slightly, and early holders tried to raise prices, but buyers only favored good copper, flat water copper supply was sufficient and the transaction was average, and the discount expanded
slightly.
Good copper supply is in short supply, and the discount quickly narrowed to the premium transaction, and the transaction performance was not as good as last Friday
.
At the close, premium copper was up 0-10 yuan to the futures contract for the month, up 70 yuan from Friday; flat water copper discount 60-80 yuan, up 50; Wet copper discount 160-180 yuan, up 70
.
South China Reserve: The average price of electrolytic copper was 49980 yuan, up 140, and the price of the month's premium was -90 to -60, up 50
.
Guangdong: more arrivals over the weekend, inventory increased significantly, but shippers are generally optimistic about the price trend in the future market, maintain a strong price and reluctance to sell, in the morning Pingshui copper reported -70, -80 yuan / ton, 50 yuan narrower than last Friday, a large
increase.
The receiver's acceptance of the premium is low, and it is difficult to have a substantial transaction, while the shipper's willingness to reduce the price promotion is general, and the subsequent premium is only slightly adjusted to flat water copper -90 yuan / ton, and good copper is still rarely quoted, -60 yuan / ton, and the overall transaction is weak
.
Shanghai copper stopped falling for 3 consecutive negatives during the day, the closing positive entity was supported by the 5-day moving average, the MACD indicator double-line performance was parallel to the upside, and the KDJ curve appeared short-term positive, waiting for external guidance, testing whether the main force of Shanghai copper can break through the weekly high of 50600 yuan / ton
.
