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Overnight, the Shanghai copper 1911 contract opened at 47140 yuan / ton, and after the opening, the copper price fluctuated in a narrow range around this position, during which it was 47170 yuan / ton and 47090 yuan / ton
.
At about 23:50 in the evening, copper prices began to break through the operating range downward, and the center of gravity of copper prices moved down to 47070 yuan / ton and began to consolidate, and then continued to decline, closing at 47020 yuan / ton at the end of the session, down 0.
23%.
Last Friday evening, both internal and external performance declined, mainly because the Federal Reserve's FOMC voting committee Rosengren and others were hawkish in their rhetoric on interest rate cuts, and the US index reached the 98.
6 mark in the evening, and copper prices came under pressure and fell
.
At present, the Sino-US trade situation is still uncertain, the market gradually returned to risk aversion, and the CMX gold price soared to a high of 1524, putting pressure
on copper to rush higher.
In terms of spot, some holders of the market at the end of last week showed a selling mood, resulting in market quotations were pulled down, today's plate price fell back, as it is expected that the downstream will be prepared for the National Day holiday, the overall transaction situation will heat up, and the selling operation of holders will converge.
It is expected that Shanghai copper will be 46900-47300 yuan / ton, and the spot premium will be 150-200 yuan / ton
.
