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Thursday Shanghai copper main contract 1909 opened at 46540 yuan / ton in the morning, the opening immediately down to the lowest level of the day 46540 yuan / ton, then the center of gravity of the plate moved slightly up, and around 46600-46660 yuan / ton oscillation sorting, then the plate continued to rise slightly to the highest level of the day 46680 yuan / ton, after a slight high, due to lack of market confidence and continued to fall, the center of gravity fell to 46640 yuan / ton around the shock finishing, the end of the session fell slightly and closed at 46620 yuan / ton, down 230 yuan / ton tons, down 0.
49%.
Externally, Apanlon copper opened low at $5918 / ton, after the opening due to the impact of the Fed's hawkish statement, copper prices fell below the $5900 mark, testing down $5895 / ton, but after short-term low, copper prices quickly rose back to the daily average above $5913 / ton, maintaining a narrow range of fluctuations, until entering the beginning of the European market to continue to maintain a volatile pattern, and there was a test of 5923 US dollars / ton, but soon due to the bulls high closed actively, copper prices bottomed out at 5893.
5 US dollars / ton, The low did not last, and copper prices rose again to test the intraday high of $5924/ton
.
As of 17:30, London copper was at $5921.
5 / ton, down 0.
45%.
In terms of the market, entering August, the pressure on corporate funds has eased, and the superimposed market performance has declined, boosting market consumption
.
Copper futures continued to fall, holders performed strongly, downstream bargain buying increased, traders activity increased significantly, and overall trading improved
significantly.
In the afternoon, the market price was still at a low level, and the market quotation was affected by the active trading in the morning, and the holders maintained a strong price rhythm, and the quotation was slightly raised
.
In the afternoon, flat water copper reported 40-liter water 80 yuan / ton, good copper reported 70-liter water 80 yuan / ton, the transaction price was in the range of 46600 yuan / ton - 46680 yuan / ton
.
At present, the macro event has temporarily come to an end, although the Fed cut interest rates by 25 basis points, but Powell made hawkish remarks, the market is doubtful about whether it continues to adopt a sharp easing policy, the dollar continues to soar, rushing up to the 99 mark, almost a two-year high, non-ferrous metals under pressure and low trend, copper prices also showed low volatility
.
At present, Shanghai copper closed negative, fell below the Bollinger mid-band, and lost all moving average support, MACD indicators have red columns turning green, technical performance bearish copper prices
.
