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On Monday, the main contract of Shanghai copper 2001 opened at 47120 yuan / ton in the morning, after the opening of the market due to the impact of the bright economic data such as the US PMI on Friday and the optimistic trade sentiment, the bulls continued to increase their positions into the market, pushing the copper price all the way up to 47170 yuan / ton to reach the highest point of the day, and then due to investors' worries about the phased capriciousness of Sino-US trade, resulting in insufficient market confidence, limiting the rise in copper prices, Shanghai copper continued to fall back to around 47100 yuan / ton after a slight exploration until the end of midday; At the opening of the afternoon, the center of gravity of Shanghai copper continued to oscillate downward, testing the lowest point of the day at 47060 yuan / ton, and the end of the session rose slightly and returned to the 47100 yuan / ton mark, up 200 yuan / ton, or 0.
43%.
In terms of external trading, Yapanlun copper opened high at 5865.
5 US dollars / ton, and the overall copper price fluctuated little during the Asian session, basically around 5870 US dollars / ton
.
Then entered the European market, at the beginning of the session in the low test of 5859.
5 US dollars / ton, driven by the favorable foreign stock market, copper prices quickly rushed to around 5890 US dollars / ton, and then coupled with the LME copper inventory announcement of a decrease of more than 2800 tons, driving the price to rush above the 5900 mark again, testing 5917 US dollars / ton
.
As of 17:30, London copper closed at $5915.
5/ton, up 1.
01%.
In the market, Shanghai copper once again rushed above 47,000 yuan / ton
.
On the delivery day of this month's long order, the willingness of the holders to hold the price was once again strong, and the morning market raised the quotation premium 100 ~ 120 yuan / ton, but the market once showed a wait-and-see, cautious receipt, after a stalemate for a while, flat water copper concentrated transaction in the premium 90 ~ premium 100 yuan / ton, good copper in the premium 110 yuan / ton line, wet copper quotation around the premium of about 50 yuan / ton, downstream to maintain just demand
.
The intraday performance period is now rising, and the market premium in the morning is hindered by the transaction conditions, but the willingness of the holders to raise the price is strong, even if the transaction performance is cautious, few people reduce the price of shipments, and most of the market transactions are for the purpose of making up tickets
.
As this month's long orders gradually come to an end, the next month's pass will gradually emerge from the market, which may drag down the sustainability
of the strong quotation.
In the afternoon, due to the slight reduction in market prices, there was still some demand for bills in the market, so holders continued to hold prices, and the high-priced market trading performance was light
.
