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On Monday, the main Shanghai copper contract 2001 opened at 46920 yuan / ton in the morning, and the opening was as low as 46860 yuan / ton, the lowest point of the day
.
With the People's Bank of China announcing the restart and launch of the 180 billion yuan 7-day reverse repurchase operation, the operating rate was cut by 5 basis points to 2.
5%, the first time in more than four years that the open market reverse repo operation rate
has been lowered.
Market sentiment was boosted, the commodity market and the A-share market were red across the board, bulls increased their positions, all the way to the highest level of the day of 47020 yuan / ton, until the end of the afternoon session, the overall center of gravity in the afternoon maintained between 46970-47020 yuan / ton high oscillation, the end of the session closed at 46980 yuan / ton, up 110 yuan / ton, up 0.
23%.
In the external market, Apanlon copper opened higher at $5846.
5 / ton, which was affected by the announcement by the People's Bank of China to restart and launch a 180 billion yuan 7-day reverse repurchase operation, the operating interest rate was cut by 5 basis points to 2.
5%, the first time in more than four years that the open market reverse repurchase operation rate
was lowered.
After hovering at a brief low of $5,836 / ton at the beginning of the session, London copper soon rose again, and the center of gravity rose to near the $5855 / ton level
.
Until entering the European market, following the rise of crude oil at the beginning of the session, the volatility was more violent, short-term high of 5866.
5 US dollars / ton, and then basically maintained at 5854 US dollars / ton
.
As of 17:00, London copper closed at $5851/ton, up 0.
25%.
In terms of the market, the Shanghai copper low test low recovery shock upward around 46,900 yuan / ton, spot market, in the SHFE inventory weekly report fell more than 13,000 tons of inventory continues to be low, holders continue to push up the mood of last week, the morning market at the beginning of the quotation premium 120 ~ premium 140 yuan / ton, attracting traders into the market to receive, the transaction enthusiasm under the spot premium was quickly pushed up to 130 ~ 150 yuan / ton range, flat water copper in the premium 130 yuan / ton line of active transactions, It was further pushed up and stabilized at 140 yuan / ton of premium, good copper was passively promoted, and then raised to 160 yuan / ton, flat water copper and good copper only 10 ~ 20 yuan / ton price difference
.
The downstream of the day to maintain just need to buy, traders continue to be accompanied by the willingness to receive goods, the market low-price source transaction is active, in the source performance is still not abundant, traders are willing to raise the price unchanged, the market initiative is still in the hands
of the seller.
In the afternoon, due to the rise in plate prices, the market transaction was suppressed, and the market turned weak in the afternoon, so the sentiment of the holders of the price cooled down slightly, and the quotation
was slightly reduced.
The overall daily trading was higher, mainly due to the re-call between the leaders of the high-level consultations between China and the United States, as well as the "interest rate cut" strategy of domestic monetary policy performance, which boosted market optimism, coupled with the rising expectations of the victory of the British Conservative Party election, the overall slowed down the market risk aversion, and copper prices were boosted all the way up
.
At present, Shanghai copper closed in the sun, macro sentiment has warmed up, bulls have slightly increased their positions, but the upper pressure is under a number of moving average resistance levels, Shanghai copper higher above the accumulation of resistance pressure is greater, testing whether Shanghai copper can stand firm at the 47,000 yuan / ton mark
.
