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Tuesday's Shanghai copper main contract 1909 opened at 46260 yuan / ton in the morning, opened down 46180 yuan / ton, and then the center of gravity rose to 46200 yuan / ton around the shock finishing, and then slightly tested down to 46160 yuan / ton and then continued to rise, the center of gravity rose to 46210 yuan / ton, after a short shock finishing continued to decline to the lowest level of the day of 46120 yuan / ton, down to 46100 yuan / ton mark
.
In the afternoon, the market edged higher, pulling up to 46250 yuan / ton, and then in a narrow range between 46190-46240 yuan / ton
.
The end of the session closed at 46190 yuan / ton
.
It fell by 200 yuan / ton, down 0.
43%.
In terms of external trading, Apanlon copper opened high at 5877 US dollars / ton, after the opening due to the pressure of the US dollar rush, in the morning to maintain a low narrow range shock pattern, the Asian market amplitude did not exceed 20 US dollars / ton, until entering the European market, the copper price at the beginning of the session slightly rose 5882 US dollars / ton, because the US dollar once again performed higher, copper prices fell deeply, quickly fell below the 5840 US dollars / ton mark, the downward trend has not stopped
.
As of 17:00, London copper was trading at $5828.
5/ton, down $51/ton, or 0.
87%.
In terms of the market, Shanghai copper continued to fall under pressure to around 46100 yuan / ton, spot consumption was weak, holders were bearish on the market, strong willingness to exchange cash, the morning market quotation premium 60 ~ 100 yuan / ton, the transaction is less and difficult, the loose source of goods makes the premium fall rapidly, flat water copper quotation premium 40 ~ 50 yuan / ton, good copper down to 80 ~ 90 yuan / ton, individual traders take the lead in increasing low-price shipments, which has a certain drag on the market, can reduce the price to a lower level; The proportion of wet source is small, maintaining the previous day's quotation discount of 30 ~ discount of 10 yuan / ton, downstream did not see a large number of bargain buying, traders between inquiries are more active, but to buy goods slightly hesitant, traders have room and willingness
to suppress prices.
Futures fell at the same time, and the copper market was weak
.
In the afternoon, the holders continued to be under pressure, especially good copper, if the transaction is lower than in the morning, flat water copper temporarily showed a stable stalemate
in the afternoon.
Shanghai copper maintained a low volatility trend during the day, mainly due to the recent decline in the stock market, the aggravation of domestic investors' risk aversion, the increase in market concerns about the macroeconomy, and the global economic and trade pattern is still in a not optimistic situation, copper prices lack momentum
.
Intraday Shanghai copper closed solid long black column, above the pressure Bollinger mid-band, MACD indicator green column elongated, technical still performance bearish copper prices
.
