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Brief comment on the copper market, Thursday morning Shanghai copper main 1906 contract opened at 48220 yuan / ton, the opening is low, then followed by the outside market, the center of gravity slightly raised to around 48360 yuan / ton, before the afternoon has been maintained a narrow range of oscillation, the amplitude does not exceed 100 yuan / ton, the afternoon copper price continued to maintain stability above the daily moving average oscillation, during the period there was an attempt to test the daily moving average, but failed to continue to trade at the low, and the overall is still dominated by short selling, the end of the session high 48400 yuan / ton, closing 48290 yuan / ton, up 450 yuan / ton ton, up 0.
94%.
South Reserve East China: The average price of electrolytic copper was 47,600 yuan, down 340, and the monthly premium quotation: 0 to 80, down 15
.
Copper prices fell again, discouraged the enthusiasm of end markets to receive goods; Coupled with the opening of the import window, the market expects that imported copper will flow into the market, which makes the cargo holders' desire to ship higher, and the spot premium continues to decline compared with the previous day; In particular, good copper, due to the continuous outflow of warehouse receipts, has put greater pressure on the price of good copper, and its price has also fallen the most
.
Overall, intraday spot market trading is average
.
Copper premium to the current month premium of 70-80 yuan, down 20; flat water copper discount 10-0 yuan, down 10; Wet copper discount 50-60 yuan, flat
.
South China Reserve: The average price of electrolytic copper was 47,640 yuan, down 340, and the monthly premium quotation: 80 to 90, down 10
.
U.
S.
tariffs on China are pending, and Shanghai copper has suffered another setback, but the consumer side has not actively replenished goods on the dip recently, and procurement is relatively conservative; In the morning, flat water copper was still reported at +90, +100 yuan / ton, good copper + 100 yuan / ton, but soon pressed by traders to flat water copper +70, +80 yuan, good copper +90 yuan / ton or so
.
After the price adjustment, the source of low-priced goods is more favored by traders, and the receipt is
acceptable.
Overall, the trend of copper prices before the tariff fell was unclear, downstream procurement was general, and the overall supply was loose and the premium fell
back.
During the day, Shanghai copper ranked first in the nonferrous sector with a capital outflow of 1.
348 billion
.
During the day, the Shanghai copper closing body broke through the lower Bollinger band upward, and the KDJ low formed a crossover to appear positive
.
Wait for the guidance of the external disk to test whether the main force of Shanghai copper can test to stand at 48400 yuan / ton
.
