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On Wednesday, the main force of Shanghai copper opened at 51770 yuan / ton in the morning, the opening was pressured by the long flat into the copper price, Shanghai copper shock lower to test the intraday low of 51640 yuan / ton, as the bulls increased their positions one after another, the center of gravity of Shanghai copper rose around the daily moving average above the narrow range, until the noon close at 51710 yuan / ton
。 At the beginning of the afternoon, bulls entered the market to pull up copper prices to climb the intraday high of 51990 yuan / ton, at this high long profit exit superimposed short position increase, the market declined, fell to 51790 yuan / ton, near the end of the Shanghai copper center of gravity rose slightly, and finally closed at 51880 yuan / ton, up 180 yuan / ton, or 0.
35%.
In terms of external trading, London copper opened at 6458 US dollars / ton, and maintained a volatile trend before noon, the center of gravity stabilized at 6455 US dollars / ton, and the intraday low was 6441 US dollars / ton
.
In the afternoon session, driven by the rise in crude oil, London copper showed a volatile upward trend, reaching a maximum of 6505 US dollars / ton
.
At this time, the high bulls took profits and left the market, and London copper fell
slightly.
As of 17:00, London copper closed at $6495/ton, up $26/ton, or 0.
4%.
In terms of the market, Shanghai copper has been under pressure of 52,000 yuan / ton for many consecutive days, and the consolidation state continues around 51,700 yuan / ton
.
Next month's ticket quotation market proportion has been presented, spot continues the previous day's quotation, flat water copper quotation premium 40 yuan / ton, good copper quotation premium 90 yuan / ton, the overall market transaction is weak, flat water copper more than premium 30 ~ 40 yuan / ton has been traded, good copper price space is limited, the transaction maintains a premium of 80 ~ 90 yuan / ton, the market response is cautious, the transaction price of wet copper is also stable at 60 ~ discount 40 yuan / ton
。 Near the end of the month, the demand is weak, but the supply of good copper is small, so that the overall premium has not continued to decline, traders want to receive the target price is low, and it is difficult to reach an agreement with the holders, and the quotation in recent days is basically in a stalemate and tug-of-war
.
In the afternoon, Shanghai copper punched above 51900 yuan / ton, blocked 51950 yuan / ton, spot quotation remained stable, market activity was low, flat water copper remained stable at 30-40 yuan / ton, good copper premium 80-90 yuan / ton, transaction price 51770-51990 yuan / ton
.
The Federal Reserve said it would extend 7 emergency loan facilities until the end of the year, and the implementation of strong fiscal and monetary stimulus policies in the United States kept the macro optimistic tone unchanged; In addition, API crude oil inventories announced in the United States were much lower than the previous value, oil prices were boosted, and copper prices rose
.
The Fed's FOMC meeting is about to begin, and market bets will introduce more economic stimulus policies, boosting market risk appetite and helping copper prices run
high.
