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On Thursday, the main morning market of Shanghai copper opened at 51120 yuan / ton, rose slightly at the beginning of the session, touched a high of 51270 yuan / ton and then fell, oscillating in the range of 51150 ~ 51210 yuan / ton, during which long and short alternately reduced positions
.
In the afternoon, copper prices slowly declined, fell below the daily moving average, tested 51010 yuan / ton and then closed the decline, along the 51060 yuan / ton line of oscillation
.
The volatility continued at the end of the day, closing at 51050 yuan / ton, up 110 yuan / ton
.
In terms of external trading, London copper opened at 6850 US dollars / ton, continued the night trend at the beginning of the session to rise steadily, touched 6866 US dollars / ton after the rally closed, along the 6866 US dollars / ton line of oscillation
.
In the afternoon, it fell slightly, testing a low of 6833 US dollars / ton, after entering European time, copper prices climbed rapidly, breaking the daily moving average upwards, touching 6900 US dollars / ton
.
After the LME copper inventory was announced to increase by 9375 tons, copper prices fell back to the line of 6860 US dollars / ton, and then crude oil strength boosted again, copper prices recovered, hindered at 6895 US dollars / ton
.
In terms of the market, the center of gravity of Shanghai copper rose slightly near the 51,000 yuan / ton mark, following the previous day's traders actively took the initiative to receive goods to complete the long order, the holders continued to hold the price within the day with a strong willingness, good copper quotation discount of about 30 yuan / ton, flat water copper in the discount of about 80 yuan / ton, the transaction is
deadlocked.
After 10 o'clock, some traders took the initiative to lower the quotation in exchange for flat water copper, and the flat water copper was slightly reduced to a discount of about 90 yuan / ton, and the willingness to receive goods was acceptable
.
In the second trading session, the market has been difficult to find a low-price source, good copper was inquired more, holders continue to raise prices, good copper leading up to around 20 yuan / ton, flat water copper quotation discount 80 ~ 70 yuan / ton, but the transaction is not easy, wet copper is still more abundant, shipment is difficult, narrow discount is limited, the transaction is 160 ~ 120 yuan / ton
discount.
The downstream continues to maintain rigid demand, low-priced sources are favored by speculators, and the market transaction is average
.
Deals are still
deadlocked.
In the afternoon session, the center of gravity of the market fell, but the price of the holders remained strong, and the quotation remained stable at the noon price
.
The market side is less responsive and less active
.
During the day, the main force of Shanghai copper as a whole showed a range-bound pattern, and the short position reduction provided benefits
.
In the afternoon session, it fell slightly due to the external drag, and the external market has shown strength after the close
.
Technically, it is still below all moving averages, and the KDJ is
adhesional in the middle.
It is expected that the evening shock has the opportunity to recover from a low level, and pay attention to the external trend to lead
.
