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Overnight, the Shanghai copper 1902 contract opened at 49640 yuan / ton, the opening around the daily moving average narrow finishing, during the period touched 49730 yuan / ton, and then the evening short position into the market, copper prices all the way down, the bottom at the close of 49230 yuan / ton
.
Spot due to yesterday's market decline, is expected to attract some downstream buying, flat water copper trading is expected to be positive, good copper due to the current tight market supply, will continue to maintain a high premium
.
It is expected that today's Shanghai copper will be 49200-49700 yuan / ton, and the spot premium will be 110-260 yuan / ton
.
At present, the market is waiting for the remedy of the Sino-US trade war, and most buyers and sellers are holding a wait-and-see mood; Spot copper prices are expected to fall
today after a 18-month low on Monday at a copper import premium in China, the world's largest copper consumer, indicating that demand for the physical metal is weakening after a buying round.
