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The news said that China's withdrawal from the Sino-US trade negotiations scheduled for recent days has darkened the prospects of the world's two largest economies to resolve trade disputes, and copper rushed back down overnight, with the latest closing price at 6281 yuan / ton, down $18, or 0.
29%.
In the domestic copper market, Shanghai copper opened high overnight, and the latest closing price of the main monthly 1811 contract was 50540 yuan / ton, up 360 yuan, or 0.
72%.
Shanghai copper along the 50700 yuan / ton a narrow finishing, close to the holiday, holders hedging inventory, morning market quotation premium 10 ~ premium 50 yuan / ton, but the holder showed a clear selling sentiment, in the case of concentrated trading of dumping, flat water copper first reduced to a discount of about 20 yuan / ton, good copper quotation reduced to 30 yuan / ton
.
But a bunch of small and medium-sized traders who can't stand the rush to become an exchange, the flat water copper is reduced to a discount of 40~30 yuan / ton, good copper is dragged down to a premium of 10~20 yuan / ton, the transaction is still difficult
.
In the second section of the trading stage, there was a tide of price reduction again, and the market quotation was fully discounted, with good copper quotation discounting of about 10 yuan / ton, and flat water copper quotation discount of more than 40 yuan / ton Wet copper closely following the market quotation, and the discount around 40 yuan / ton was reduced to around
100 yuan discount.
Downstream consumption is still cautious, there is no concentrated replenishment before the holiday, and buying is very limited
.
The copper plate is high, the basis of the next month is still in the range of 130~150 yuan / ton, there are only 3 trading days left before the holiday, the willingness to exchange is still dominant, and the discount still has the possibility of
expansion.
