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On Thursday, the main 1808 contract of Shanghai copper opened at 49670 yuan / ton, after the opening copper price briefly fell to 49490 yuan / ton, and then some of the early bears took profits, copper prices gradually rebounded, the high to 49940 yuan / ton, 50000 yuan / ton integer off the pressure is obvious, then the center of gravity of copper prices moved down, the morning session still hovered above the daily average of 49644 yuan / ton, as soon as the afternoon opened, bears continued to carry positions in, copper prices quickly leaked below the daily moving average, the center of gravity continued to move down, low to 49240 yuan / ton, slightly repaired at the end of the day, and finally closed at 49330 yuan / ton, down 1440 yuan / ton, down 2.
84%.
In terms of the external market, London copper opened at 6406 US dollars / ton, at the beginning of the session, London copper around the opening price around a wide range of oscillations, intraday high to 6428 US dollars / ton, but then the bears continued to enter the market to suppress, while the bulls a large number of positions out of the market, dragging down Lun copper quickly down, all the way down to a low of 6354.
5 US dollars / ton, after the European session, the dollar fell, London copper stopped falling and stabilized, and gradually rose upward, recovering some lost ground, as of 17:43, London copper reported 6407.
5 US dollars / ton
.
In terms of the market, overnight domestic and foreign base metals fell across the board, London copper fell below 6400 US dollars / ton, Shanghai copper fell below 50,000 yuan, down 1,000 yuan, morning market holders reported premium, good copper premium 20 ~ 30 yuan / ton, flat water copper flat water, under the big fall, market caution rose, received limited goods, the price of holders moved down, flat water copper gradually reduced to a discount of 20 ~ 10 yuan / ton, good copper maintenance 10 ~ 20 yuan / ton, traders activity declined, the plate showed no signs of stopping, the market was afraid of decline Although there are inquiries downstream, the number of orders entering the market is decreasing
day by day.
The market is low, and there is still room and willingness
for spot weekend premiums to rise slightly.
In the afternoon session, the market continued to fall, downstream and traders in the absence of signs of stopping, the enthusiasm to receive goods is obviously insufficient, but the willingness of holders to hold up the price is strong, so the market trading is deadlocked, the quotation is stable, flat water copper report discount 20-10 yuan / ton, good copper report premium 10-20 yuan / ton, the transaction price is 49300-49540 yuan / ton
.
During the day, trade war worries still shrouded the market, pessimism was strong, Shanghai copper continued to decline after a short rebound, pay attention to the change in market sentiment after Sino-US tariffs, if there is no positive factor, copper is still a weapon in the hands of bears, copper prices still have room
to fall.
