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Overnight, the Shanghai copper 1607 contract opened at 36240 yuan / ton, opened slightly higher and then turned downward, the lowest before the break, the lowest to 35030 yuan / ton, and finally Shanghai copper closed at 35300 yuan / ton, down 850 yuan / ton, warehouse increased 24534 lots
.
On the macro front, from late May to mid-June, the market faced more
uncertainty.
First of all, the attitude of the Fed's monetary policy, many Fed officials expressed their opinions during the week, their attitude to whether to raise interest rates in June is not consistent, but at the same time, due to concerns about the recent stagnation of the US economy, June as a time to raise interest rates is not urgent; Secondly, there is the risk of Brexit, which is still difficult to judge; Finally, there is the trading sentiment of surrounding markets such as crude oil, the dollar index and the US stock market, and the base metals market is expected to be affected
in the future.
In terms of the market, today's Shanghai electrolytic copper spot reported a premium of 50 yuan / ton - 80 yuan / ton, flat water copper transaction price of 35200 yuan / ton - 35380 yuan / ton, and a premium copper trading price of 35220 yuan / ton - 35400 yuan / ton
.
Shanghai copper fell 800 yuan / ton after the low shock, the basis continued to widen to around 250 yuan / ton in the next month, so that the copper premium in the morning market continued to expand, good copper reported 60 yuan / ton - premium 80 yuan / ton, flat water copper reported premium 50 yuan / ton - 60 yuan / ton
.
Traders in the morning market are actively
trading.
After this sharp decline, although the downstream continued to buy goods, the quantity was far less than before
.
After the 11 o'clock market slightly corrected and rose, the shipment of cargo holders increased, the market supply increased, and the rise of premium was blocked
.
Speculators are no longer eager to buy, and the market sentiment is gradually changing to a wait-and-see focus
.
The overall transaction rose first and then declined
.
The market fully reflects the pre-closing characteristics
.
Today, Shanghai copper inertia fell after the opening, and then slowly stabilized and rebounded, the main contract touched 35650 yuan / ton, narrow horizontal consolidation in the afternoon, 1607 finally closed at 35480 yuan / ton, down 670 yuan / ton, down 1.
85%.
Today's Shanghai copper sharply reduced its position and consolidated during the day, and the decline slowed down, focusing on the support
around 35,000 yuan / ton in the evening.
