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On Thursday, the Shanghai copper 2005 contract jumped low at 43760 yuan / ton in the morning, and then fell to 43180 yuan / ton, reaching the lowest point of the day, and then quickly rebounded back above the daily moving average, but the momentum was insufficient, and it fell again below the daily moving average, and the afternoon market continued to decline, until the close was running below the daily moving average, the center of gravity remained stable at 43450 yuan / ton, and the end of the session closed at 43450 yuan / ton, down 1100 yuan / ton, down 2.
47%.
。 At present, under the influence of the epidemic, many central banks have started to cut interest rates, the market macro sentiment has remained bearish, and copper prices have also maintained a stable low, and the upward momentum is obviously insufficient
.
In terms of external trading, the Asian market opened low at $5463.
5 / ton in the morning, as the World Health Organization announced that the new crown epidemic has constituted a global pandemic, as the number of confirmed cases increases and more countries implement travel restrictions, the market is in a panic, so the bulk market is more inhibited, copper prices in the morning after testing 5484 US dollars / ton, the center of gravity basically maintained at 5440 US dollars / ton, touched 5406.
5 US dollars / ton
in the morning.
As of 16:00, the price of London copper was 5445.
5 US dollars / ton, down 1.
11%.
WHO announced that the new crown epidemic has constituted a global pandemic, the market is in a panic, U.
S.
stocks have fallen sharply, overnight base metals have fallen continuously, intraday Shanghai copper broke 43,000 yuan / ton, probing a new low in four years, the decline of more than 1,000 yuan, the morning good copper took the lead in raising the quotation, good copper from the premium 50 yuan / ton to report, flat water copper correspondingly raised to the premium 30-40 yuan / ton, the market fell endlessly, the market fear of decline, it is difficult to have a transaction, so in the value preservation of profit liquidation demand in some holders took the initiative to reduce the quotation, in order to facilitate the transaction, The spot premium continued to decrease together with the plate, until the flat water copper stabilized at 10 yuan / ton of premium, good copper premium 20-30 yuan / ton, wet copper continued to narrow, and the quotation remained at 50 ~ 30 yuan / ton
.
After the sharp fall in copper, traders maintained a high degree of activity, the downstream continued to buy the right amount of dips, the market performed deep V shock in the morning, although it rose from the low level at noon to about 300 yuan / ton, the cautious mood under the unending trend of the decline still pervades the market, and it may be difficult
to raise the premium.
In the afternoon, the plate was sideways, the spot market continued to quote flat water copper premium 10-20 yuan / ton in the morning, good copper premium 20-30 yuan / ton, market activity and inquiry atmosphere is not as good as the morning market, supply and demand returned to a deadlock pattern, the transaction price was 43090-43170 yuan / ton
.
Shanghai copper continued to jump sharply during the day, as affected by the epidemic the United States, the United Kingdom, Canada and other countries have suddenly cut interest rates to save their economic impact, the United Kingdom, Italy and Australia announced emergency measures, but this move investors do not seem to buy, foreign governments in the face of the epidemic slow response, continue to exacerbate market panic, Shanghai copper under pressure continued to fall
.
At present, the low level of Shanghai copper has reached a low of 43180 yuan / ton, KDJ indicator opening has expanded, technical pressure, it is expected that in the case of foreign epidemic has not improved, copper prices are difficult to rise, continue to test whether Shanghai copper can hold the 43,000 yuan / ton mark
.
