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On Wednesday, the Shanghai copper morning market 1810 contract opened at 48940 yuan / ton, the beginning of the session fluctuated at 48930 yuan / ton line, and then long positions increased, copper prices slowly climbed to the highest of the day 49100 yuan / ton
.
In the afternoon, short more exits, copper prices fell back to the lowest of the day of 48750 yuan / ton blocked, at the end of the day, the shock ran at 48800 yuan / ton line, closed at 48830 yuan / ton, up 200 yuan / ton
.
Shanghai copper intraday storage broke through the 49,000 yuan / ton blocked, currently fluctuating at 48800 yuan / ton line, under pressure on the 20-day moving average
.
In terms of the external market, London copper opened at 6129.
5 US dollars / ton, along the 6125 US dollars / ton in the morning a line of oscillation, the second trading session, based on the daily moving average center of gravity up, rushed up to 6149.
5 US dollars / ton, blocked from falling, until the afternoon, the center of gravity moved up to 6140 US dollars / ton oscillation, in the afternoon, with the slight recovery of the US dollar, short positions increased, copper prices fell under pressure to 6091 US dollars / ton, at the end of the Asian session, once tried to recover, but the daily moving average was under pressure, again fell below 6100 US dollars / The ton integer mark to the intraday low of $6076 / ton, during the European session, along the $6100 / ton line of oscillation
.
As of 17:30, London copper was at $6101.
56 / ton, down $33, or 0.
54%.
In terms of the market, Shanghai copper broke through the 40-day moving average at 49,000 yuan / ton in a narrow range, traders continue to raise the premium willingness is strong, in the morning holders quoted a premium of 90 ~ 120 yuan / ton, flat water copper was the first to trade, and then the holder soon raised the quotation, flat water copper premium 100 yuan / ton, good copper premium 130 ~ 140 yuan / ton
.
Copper continued to rebound, the ratio gradually showed signs of recovery, the market mentality was divided, this week was dominated by active trading by traders, intraday premium jumped nearly 50%, so that traders stopped and waited
for the time being.
The future market premium performance will still be affected by the ratio, pay attention to the change of the Shanghai ratio and the guidance of the change in the profit of imported copper
.
In the afternoon, the market fell back, giving up the morning gains, the import ratio rebounded, the holders continued to lower the premium, the downstream willingness to receive goods was not high, traders were willing to receive lower sources, flat water copper rose 70 ~ liter 80 yuan / ton, good copper reported 100 ~ liter 110 yuan.
tons, the afternoon transaction price is 48870 yuan / ton ~ 49050 yuan / ton
.
In terms of news, Canadian media reported that Canada is considering making concessions on the North American Free Trade Agreement, and with the opening of a new round of global negotiations, the tense trade situation is gradually easing; The shutdown of India's Sterlite copper smelter led to a 47.
1% drop in domestic refined copper production, rising prices and lower exports, and copper prices may continue to rise in the near future
.
