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On Monday, the main force of Shanghai copper opened at 51390 yuan / ton in the morning, and after the opening, the copper price quickly fell to 51210 yuan / ton, and fell again after a slight rebound, exploring the intraday low of 51120 yuan / ton
.
After that, as the bulls increased their positions one after another, copper prices fluctuated upward, and the center of gravity rose to around 51300 yuan / position, closing at 51310 yuan / ton
at midday.
In the afternoon, bulls entered the market to pull up copper prices to the highest point of the day of 51450 yuan / ton, but the bulls continued to push up the day with limited momentum, the plate slowly declined, near the end of the long long to reduce holdings and leave the market, copper prices finally closed at 51270 yuan / ton, down 120 yuan / ton, down 0.
23%.
Externally, Apan Lun copper opened at 6446.
5 US dollars / ton, fell after the open, and accelerated to the intraday low of 6387 US dollars / ton after the opening of Shanghai copper, and then rebounded London copper center of gravity back above the daily moving average, and around 6420 US dollars / ton slightly sorted out, in the afternoon bulls again let Lun copper rise more than 20 US dollars / ton to 6400 US dollars / ton, and then bears pressured London copper shock downward
。 Entering the European session, affected by international crude oil, London copper fell to 6404.
5 US dollars / ton, but the decline of the US dollar index made London copper regain rebound momentum, as of 17:00, London copper closed at 6434 US dollars / ton, down 3 US dollars / ton, down 0.
05%.
In terms of the market, Shanghai copper continued to consolidate in the 5-10-day moving average range, mostly in a narrow range of 51250-51350 yuan / ton
.
Morning market holders that is, the quotation is stable at flat water copper premium 50-60 yuan / ton, good copper high in the premium 100 ~ 120 yuan / ton, flat water copper trading to maintain activity, short may be some brands such as big river small board can be pressed to 40 yuan / ton, the second trading session has been difficult to find a premium of 50 yuan / ton of flat water copper, some holders raised the price to 70 yuan / ton, but the transaction is obviously suppressed
。 Good copper price spread performance is peculiar, ENM quotation is almost close to flat water copper for well-known reasons, domestic good copper market is difficult to find, independent storage-P as high as 100-110 yuan / ton, making traders who receive good copper dilemma
.
The quotation of wet copper followed up to about 30 yuan / ton of discount
.
Downstream remained rigid, and transactions continued to improve
slightly.
This week has entered the long order delivery cycle, and copper is in a correction period, the holder intends to rise the water, the premium is easy to rise and fall, the market transaction will also improve
significantly.
The newly announced one-year lending rate of the central bank remained unchanged at 3.
85%, the tone of monetary policy easing remained unchanged, and investors' sentiment remained cautiously optimistic
.
However, the market's concerns about the continued severe state of the new crown epidemic plaguing the economic recovery remain, and the global confirmed cases of the new crown have now exceeded the 14 million mark, and the market's expectations for economic recovery prospects have been suppressed as the epidemic has not yet ended and tensions between China and the United States continue to ferment, weighing on copper prices
.
Shanghai copper closed negative during the day, KDJ opening continued to expand downward, above the pressure of the 5-day moving average, waiting for the guidance of the external market, testing whether the bulls can hold the 10-day moving average
.
