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On Monday, the main contract of Shanghai copper 2004 opened at 44,000 yuan / ton in the morning, and the gap fell nearly 1,000 points at the opening, mainly due to the collapse of OPEC+, triggering the outbreak of a full-scale price war in the world's largest producer, U.
S.
crude oil and Brent crude oil have fallen sharply, the largest decline since the Gulf War, when the global epidemic is in full swing, it has caused the market demand for crude oil to decline, the breakdown of the negotiations, but also to the oil price, Shanghai copper by the linkage intraday opening plunged nearly 1,000 yuan, Shanghai copper center of gravity jumped down, Fell below the 44,000 yuan / ton mark, tested down 43,460 yuan / ton, the intraday trend is basically around the daily moving average narrow range of oscillation, the shock range is between 43630-43850 yuan / ton, the end of the session closed at 43750 yuan / ton, down 1210 yuan / ton, down 2.
69%.
In the external market, due to the collapse of the OPEC+ alliance production reduction talks in the morning, crude oil performance plummeted by 10%, which was obviously bearish for the bulk market, copper prices opened at $5535 / ton at the beginning, and then the overall performance fluctuated after the initial test of 5555 US dollars / ton, and the center of gravity was basically stable at 5510 US dollars / ton
.
Subsequently, entering the European market, the market confidence performance was insufficient, and copper prices once again fluctuated downward, bottoming out at $5433 / ton
.
As of 17:00, the price of London copper was 5437 US dollars / ton, down 181 US dollars / ton, or 3.
22%.
In the market, Shanghai copper fell by more than 1,000 yuan to around
43,500 yuan / ton.
Copper prices fell sharply, holders performed strongly, the morning market quotation is good copper premium 10 yuan / ton, flat water copper is still in the flat water line, but the market fear of the atmosphere is strong, the initiative to buy less, the actual transaction is very small, the holder is difficult to hold the quotation of the flat water line, at the same time, the holder of the value preservation order is eager to profit and close the position, so the quotation began to be lowered, flat water copper to discount 30 ~ discount 20 yuan / ton, good copper to discount 20 ~ discount 10 yuan / ton, only to buy.
In the second trading stage, the market supply is amplified, and the holders once again expand the discount to attract buying, good copper is as low as a discount of 30 yuan / ton, flat water copper is generally quoted at a discount of 40 yuan / ton, after eleven o'clock has been heard of a discount of 50 yuan / ton of flat water copper, low discount source is relatively favored, wet copper quotation discount around
100 yuan.
In the second trading session, the low level of the market has rebounded, the downstream bargain is appropriately replenished, traders receive goods at a low price, and the market activity has improved significantly earlier, but under the stability of the market, there is no large number of market purchases, and the overall atmosphere of fear of decline is still strong
。 In the afternoon, the plate continued to be sideways narrow sorting, eager to close the position of the holder decreased, so the spot quotation also did not have the low discount quotation at the afternoon market, flat water copper held steady at the discount of 30 yuan - discount 20 yuan / ton, good copper stable in the discount of 20 - discount 10 yuan / ton, the transaction remained at 43520-43600 yuan / ton, the trading atmosphere again tends to 37 light, if tomorrow's plate continues the low sideways trend, the discount may be difficult to hold
.
In the case of the collapse and disturbance of OPEC+ negotiations and the continuous spread of the global epidemic, Shanghai copper fell to a three-year low, and it is expected that after the bearish news of OPEC+ negotiations is digested, Shanghai copper is likely to return to a low level, but there are still restrictions
on the development of the epidemic at the high level.
At present, Shanghai copper is overcast, breaking down nearly 1,000 points, and it is expected that short-term Shanghai copper will return to the 44,000 yuan / ton mark in the short term
.
