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On Monday, the main 1809 contract of Shanghai copper opened at 50030 yuan / ton, and the slight rise at the beginning of the session was hindered by 50150 yuan / ton, and then the bulls closed their positions and left the market, and copper prices fluctuated
downward.
After the opening of midday, the outer market took the lead in leading the decline, the bulls left the market, the copper price jumped low open, after a short consolidation of 49650 yuan / ton, a large number of bulls feared to fall out of the market, and the copper price fell rapidly at the end of the session, closing at 49360 yuan / ton, down 680 yuan / ton
.
In terms of external trading, London copper opened high at 6262 US dollars / ton, and the upward touch at the beginning of the session was 6277 US dollars / ton, but the high bulls ended Lun copper to open a shock downward mode, and briefly consolidated at 6230 US dollars / ton at noon, and the decline accelerated in the afternoon, the lowest to 6162 US dollars / ton
.
Subsequently, the US index rebounded to 6205 US dollars / ton in the low level, as of 17:00, London copper was reported at 6207.
5 US dollars / ton
.
In terms of the market, Shanghai electrolytic copper spot contract reported a discount of 60 yuan / ton ~ 20 yuan / ton, flat water copper trading price of 49700 yuan / ton ~ 49850 yuan / ton, and premium copper trading price of 49720 yuan / ton ~ 49870 yuan / ton
.
Shanghai copper opened high and low, the yuan depreciated again in the morning and fell sharply above 6.
8450, the import window was closed, most of the imported copper entered last week has been digested, and the subsequent market entry will stagnate
again.
Morning market holders are willing to sell at a high price, the quotation discount 60 ~ discount 20 yuan / ton, the receivers are mostly traders, and the favor of flat water copper is slightly higher than that of good copper, the number of shipments is reduced compared with last week, and the transaction is
deadlocked.
But after two days at the end of the month, the transaction is expected to improve
after the week.
In the afternoon, the market continued to fall, the market supply decreased, the discount narrowed, although the downstream and traders had the willingness to receive the goods, but the holders continued to raise prices, and even heard that there was a flat water quotation, the transaction was deadlocked, and a small number of consignees traded at the same discount as in the morning
.
On the macro front, the central renminbi fell 189 points for the second consecutive session to 6.
8131, the lowest
since June 27, 2017.
The median price of the previous session was 6.
7942
.
The official closing price of the previous session was 6.
8246, and the previous session closed at 6.
8100
.
The central exchange rate of the renminbi rose 378 points on Thursday, the biggest
increase since July 5.
In terms of news, Chilean Escondida copper miners have rejected the final salary proposal given by the capital and agreed to vote on whether to hold a strike, the news has supported copper prices, but the current copper market supply is sufficient and month-end factors limit the rally, and copper prices are expected to fluctuate in the short term
.
