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On the last trading day before the holiday, the main contract of Shanghai copper 1911 opened at 47210 yuan / ton in the morning, and the opening rushed up to a high of 47290 yuan / ton, and then fell to around 47200 yuan / ton, and then the bulls increased their positions, the plate went all the way, straight to 47400 yuan / ton, and the center of gravity briefly fluctuated around 47380 yuan / ton in the afternoon, and then quickly rushed up to the end of the market directly to 47490 yuan / ton, up 260 yuan / ton, or 0.
55%.
In the external market, Apanlon copper gapped to open at 5814 US dollars / ton, and after the opening, copper prices directly rose to 5829 US dollars / ton, and then pulled back to the opening position near the oscillation
.
The main reason for the high opening was due to Trump's announcement that he would delay the tariff hike on $250 billion of Chinese exports to the United States, and Sino-US trade tensions eased
.
London copper sideways to about 10:30, Sino-US trade again positive, there is news that China is considering resuming agricultural purchases from the United States, copper prices have been boosted to rise again, the center of gravity moved up to around $5845 / ton to consolidate
again.
In terms of the market, Shanghai copper opened low and went high, but did not break the original range shock pattern, and sorted out around 47200~47300 yuan / ton during the day
.
On the last trading day before the Mid-Autumn Festival holiday, the holders maintained their willingness to rise water, and the morning market continued yesterday's quotation of 110 ~ 140 yuan / ton, but the overall transaction activity declined, flat water copper concentrated transaction premium around 110 yuan / ton, a small amount of supply can be as low as 100 yuan / ton, good copper still maintains a premium of 130 yuan / ton line, wet copper stalemate premium 50 ~ premium 70 yuan / ton
.
On the last trading day, the market bought flat, downstream just demanded, traders in order to avoid the risk during the holiday period cautious wait-and-see, most of them have shown a holiday state
.
The supply and demand sides of the market continue to show a stalemate, and the Monday after the holiday is the delivery of the current month, pay attention to the guidance
of the next month's spread.
In the afternoon, due to the gradual entry into holiday mode, the market quotation decreased significantly, and there were almost no transactions
.
Shanghai copper rose during the day, as the United States announced that it would delay the tariff hike on Chinese exports to the United States, trade sentiment eased, market confidence was boosted, and Shanghai copper rose all the way back to around
the 47,500 yuan / ton mark.
At present, Shanghai copper closed in the sun, the K-line entity has broken through the 5-day moving average, the KDJ indicator is favorable to expand, and the technical situation has supported copper prices
.
