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On Thursday, the main 1808 contract of Shanghai copper opened at 51760 yuan / ton, after the opening of some bulls took profits, copper price center of gravity moved down to 51700 yuan / ton around the shock operation, before the close of the morning session, copper prices rose slightly to a high of 51810 yuan / ton, then blocked at the 60-day moving average, copper prices continued to maintain a narrow consolidation, half an hour before the end of the close, bulls concentrated on reducing positions and leaving the market, copper prices gradually leaked down to a low of 51560 yuan / ton, and finally closed at 51640 yuan / ton, up 60 yuan
。
In terms of external trading, London copper opened at 6693 US dollars / ton, at the beginning of the session London copper around the opening price around the oscillation running, then the center of gravity slowly moved up, to 6693 US dollars / ton narrow consolidation, intraday high to 6703 US dollars / ton, in the afternoon, the dollar index rose strongly, dragging London copper to open a downward mode, all the way down to 6643.
5 US dollars / ton, then the dollar fell, London copper slightly repaired, as of 18:05, London copper reported 6663.
5 US dollars / ton
.
In terms of the market, Shanghai electrolytic copper spot contract reported a discount of 200 yuan / ton - 150 yuan / ton, flat water copper trading price of 51330 yuan / ton - 51400 yuan / ton, and premium copper trading price of 51370 yuan / ton - 51430 yuan / ton
.
Non-ferrous metals generally turned red during the day, and copper rebounded
slightly in Shanghai.
The morning market quotation of the holder was firm at the discount of 180~140 yuan / ton, the transaction stopped, and then the good copper was adjusted to the discount of 160~150 yuan / ton, and the price of flat water copper was adjusted to the discount of 200 yuan / ton
.
Some speculators with financial ability replenished the goods next month, received the goods at a low price, the transaction improved slightly, the transaction of low-priced flat water copper was better than that of good copper, the proportion of wet copper sources decreased, the intraday quotation converged, and the quotation was slightly narrowed from the previous day at a discount of about
270 yuan / .
On the last trading day of this month, bank capital repayment has basically entered the end, most of the enterprises will also enter the settlement state, plus the weekend, the premium may be deadlocked, and the transaction is difficult to make a breakthrough improvement
.
In terms of stocks, as of June 26, COMEX copper stocks 224598 short tons, an increase of 125 tons from the previous day; LME copper stocks were 298775 tonnes, down 4,325 tonnes from the previous day; As of June 28, SSE futures inventories were 139871 tons, down 1,101 tons
from the previous day.
During the day, the trend of Shanghai copper is relatively stable, and the pressure at the upper 60-day moving average is still heavy, and it is expected that the copper price around 51500 yuan / ton will continue to fluctuate in
the short term.
At present, the risk of Sino-US trade war has receded, market risk aversion has cooled, market sentiment has rebounded, and short-term Shanghai copper is expected to be strong
.
