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On Tuesday, the main contract of Shanghai copper 2001 opened at 47140 yuan / ton in the morning, and immediately after the opening of the day, the lowest level of 47130 yuan / ton, and then due to the good expectations of institutional investors for the improvement of the international trade situation, betting on crude oil bulls, U.
S.
crude oil rushed up to a high of $56.
4 / barrel, copper prices were boosted and pulled up, bulls have entered the market to push copper prices all the way up to 47330 yuan / ton intraday high, but because the macroeconomy still has no obvious improvement support, market confidence is insufficient and it is difficult to stand firm.
At the end of the session, it fell slightly and closed at 47270 yuan / ton, up 10 yuan / ton, or 0.
02%.
In terms of external trading, Apanlon copper opened high at 5882 US dollars / ton, after the opening due to the morning crude oil performance rebounded, good for the bulk, copper prices followed, the afternoon Chinese stock market recovered, stimulating copper prices to rise more obviously, European market before rushing up 5923 US dollars / ton
.
But then into the European market, due to the recent trade situation temporarily unstable, the market continued to rush high confidence is not enough, bulls high actively closed positions, copper prices began to plummet, giving up all the morning gains, again fell below the $5900 mark
.
In terms of the market, Shanghai copper continued to consolidate below 47100 yuan / ton, morning market holders continued the previous day's quotation premium 80 ~ premium 110 yuan / ton, market inquiry enthusiasm is high, good copper quotation maintained premium 100 ~ premium 110 yuan / ton quotation and there is a transaction, flat water copper quotation maintained stable around 80 ~ premium 90 yuan / ton, downstream to maintain rigid demand
.
The low transaction improved slightly from the previous day, close to the end of the market, the holders continued to push up the water copper to report a premium of 100 yuan / ton, and good copper passively followed the rise of 120 yuan / ton
.
Intraday holders are more willing to raise prices and premiums, and there is almost no price difference between brands, making it difficult for traders to make a difference, and market supply and demand still show stalemate and
tug-of-war.
In the afternoon, although the market price recovered, due to the good market receiving situation, the holders did not lower the quotation, but continued to rise
.
Recently, the industrial data released by Europe has performed poorly, Brexit and the global trade situation is uncertain, the market is still looking at assets such as the US dollar and gold, and copper prices are under greater pressure
.
