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Tuesday's Shanghai copper main contract 2003 opened at 48870 yuan / ton in the morning, and then immediately rushed up to the 49000 yuan / ton mark, but the long and short sides faced the battle for the pass, continued to rush high and hesitated, and then fell slightly back to the center of gravity hovering around 48910 yuan / ton oscillation, in the afternoon bulls continued to test the 49000 yuan / ton mark, the center of gravity stabilized around 48950 yuan / ton, until the end of the session slightly higher, closed at 49010 yuan / ton, up 200 yuan / ton, up 0.
41
。
In terms of external trading, Apanlon copper opened at 6148.
5 US dollars / ton in the morning, opened low and went high after the open, tested high at 6180 US dollars / ton at noon, and the center of gravity also basically maintained a high level
in the afternoon.
Then entered the European market, Iran made nervous remarks, market nervousness revived, copper prices completely gave up the morning gains, short-term lower 6143 US dollars / ton
.
As of 17:30, London copper closed at $6156.
5 / ton, up 0.
19%, the dollar index was at 96.
688, and U.
S.
crude oil was at $63 / barrel
.
In terms of the market, Shanghai copper is sorted
out along the line of 48,700 yuan / ton.
The premium went higher and the willingness of the cargo holders to exchange cash increased, the market supply was abundant, the morning market quotation was still in the premium 60 ~ premium 80 yuan / ton, after the short transaction of traders, the transaction was difficult to further promote, the transaction was significantly blocked, the quotation declined, flat water copper because of the abundant supply, the first to reduce to the premium of about 50 yuan / ton, good copper heel reduced to the premium 60 ~ premium 70 yuan / ton, wet copper with the market fine-tuned to the discount of 30 ~ discount 10 yuan / ton nearby
.
Intraday copper turned red, premium high, the market after the previous days of concentrated bargain replenishment, more stop and see, a small amount of downstream just demand, although traders have the willingness to receive goods, but the price is difficult to reach the desired target, supply and demand are more likely to fall into a standoff
.
In the afternoon, the overall trading was more deadlocked, and the willingness of holders to lower their quotations was not strong, but traders were also hesitant to receive goods at the current price, so the spot transaction in the afternoon was relatively light
.
In the afternoon, flat water copper reported 50-60 yuan / ton, good copper reported 60-70 yuan / ton, and the transaction price was in the range of 48770-48800 yuan / ton
.
The center of gravity of Shanghai copper moved slightly upward during the day, mainly due to the situation in the Middle East, Iran did not immediately take retaliatory action, the tension in the market has eased, coupled with the British PMI and the Eurozone confidence index performance exceeded expectations, macro expectations have an optimistic recovery, dual factors are favorable to copper prices
, the center of gravity moved slightly up.
However, due to Iranian Foreign Minister Zarif's confirmation of the visa to the United States and other incidents, it is still necessary to be vigilant about the follow-up risks
of the US-Iran situation.
