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On Friday, the main contract of Shanghai copper 1912 opened at 46940 yuan / ton in the morning, and then slightly fell to 46920 yuan / ton and then went all the way up, until the end of the afternoon trading back to the 47000 mark, the afternoon opening to maintain stability around 47070 yuan / ton, a slight retreat continued to rise, the end of the session closed at 47120 yuan / ton, down 250 yuan / ton, down 0.
53%.
The low rebound of the market was mainly due to the improvement of the domestic Caixin manufacturing PMI data, the release of the value exceeded expectations, which boosted market sentiment, and Shanghai copper returned to the 47,000 yuan / ton mark
.
Externally, Apanlon copper opened high at 5811 US dollars / ton, the opening is low, after the opening the market gradually digested the negative news in European data, and China's Caixin PMI data performed favorably, bears closed their positions at a low level positively, copper prices recovered overnight losses, and the center of gravity before the European market has returned to around 5845 US dollars / ton
.
Then entered the European market, as the market worries about the trade outlook increased, the market risk aversion rebounded, the dollar also took the opportunity to rise, commodities were under pressure, copper prices retreated
.
As of 17:30, London copper closed at $5822/ton, up 0.
21%.
In terms of the market, Shanghai copper fell below 47,000 yuan / ton to 46,900 yuan / ton, and the first-line low volatility
.
On the first trading day of November, companies were abundant in funds, coupled with the decline in copper plates, boosting market consumption
.
The morning market activity is high, the quotation of flat water ~ premium 40 yuan / ton, flat water copper favor is slightly better than good copper, low-priced flat water copper is quickly collected, after flat water copper is stable in the premium 10 ~ liter 20 yuan / ton range, good copper quotation maintained stability at premium 30 ~ premium 40 yuan / ton, good copper buying is not as good as flat water copper; Wet copper is slightly higher than yesterday, and the quotation discount is 50 ~ discount 30 yuan / ton
.
Copper futures fell, holders performed strongly, downstream bargain buying increased, traders finally got rid of the stalemate pattern of a week, activity increased significantly, and overall trading improved
significantly.
In the afternoon, the market activity continued to be transmitted, and the transaction atmosphere turned good, which made the holders more willing to hold prices, and some traders received goods at low prices
.
In terms of news, Caixin China's manufacturing PMI recorded 51.
7 in October, rebounding for four consecutive months, China's economy continues to repair at a relatively rapid pace, if terminal demand, especially infrastructure and export improvement, continues, the manufacturing industry will gradually have a stabilizing foundation, which will boost copper prices but have limited
impact.
