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Wednesday Shanghai copper main contract 2001 opened at 47050 yuan / ton in the morning, the opening was stable around 47040 yuan / ton, and then tested the lowest level of the day of 46980 yuan / ton and then immediately recovered, and in the range of 47010-47070 yuan / ton oscillation until the end of the afternoon, the afternoon plate continued to hover in the range of 47010-47060 yuan / ton, the fluctuation range is small, maintained within 50 yuan / ton, the end of the session closed at 47030 yuan / ton, down 180 yuan / ton, It was down 0.
38%.
In the external market, Apanlon copper opened higher at 5854.
5 US dollars / ton, and the overall amplitude after the morning opening did not exceed 18 US dollars / ton, as the market waited for further guidance on Sino-US trade until the end of the Asian market there was a slight test of 5864 US dollars / ton
.
Entering the European market, copper prices fell sharply, as the uncertainty of the trade situation and the further weakening of European economic data deepened market risk aversion, copper prices fell by 5831 US dollars / ton, and then continued to maintain a volatile pattern
.
As of 17:30, London copper closed at $5837.
5/ton, down 0.
28%.
In terms of the market, Shanghai copper gap opened low 47,000 yuan / ton to test the first line
of 46,900 yuan / ton.
The morning inquiry is active and active, traders are willing to receive goods at low prices, and the holders jump up the quotation premium 110 ~ 140 yuan / ton, still attracting some traders to actively enter the receipt, and then the flat water copper raised higher than the premium 120 yuan / ton ~ 130 liter; The holder insisted on a firm quotation, and the good copper was raised in the premium 140 ~ 150 yuan / ton; Wet copper followed the market to adjust the quotation at 50 ~ 60 yuan / ton of premium, downstream bargain buying increased, some holders immediately adjusted higher than the premium 70-80 yuan / ton, but the high premium inhibited the downstream market rhythm
.
Copper futures fell sharply, the market circulation supply was limited, trade speculation took the initiative to lead the market buying, and the transaction broke the deadlock pattern at the beginning of the week and improved
significantly from the previous two days.
Market quotations continued to be high in the afternoon, as market holders took the opportunity to raise water during the recent period when copper imports failed to enter the market in large quantities, and despite the high prices, the market trade demand was acceptable, so the premium remained high
.
At present, there is still great uncertainty in global macro policies, and the futures market currently lacks directional guidance, considering the decline in copper and aluminum supply and demand and weak inventories, and China's macro policy stability maintenance hedging measures are ready to go, it is recommended that copper and aluminum in the fourth quarter to shock rebound ideas, short-term fast forward and fast out operation
.
