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On Friday, the main 1710 contract of Shanghai copper opened at 50310 yuan / ton, after the opening of the bulls to reduce positions and leave the market, copper prices fluctuated downward, all the way below 50,000 yuan / ton to 49,820 yuan / ton after the decline was suspended, copper prices repaired upward, but the pressure was obvious, and then copper prices opened a slow downward trend, low to 49760 yuan / ton, the end of the day rebounded slightly, closed at 49970 yuan / ton long black line, down 970 yuan / ton
.
During the day, Shanghai copper opened low and went low, falling below the support of the 5-day and 10-day moving averages respectively, showing a pullback for two consecutive days, and paying attention to the support of the 20-day line below in the short term
.
In terms of the external market, London copper opened at 6393 US dollars / ton, at the beginning of the session London copper briefly stayed near the opening price, and then as the bulls reduced their positions and left the market, London copper quickly leaked, to 6345 US dollars / ton after London copper low rebound, but under pressure on the daily moving average, can not continue to rise, then around 6362 US dollars / ton around a wide range of shock, afternoon London copper twice fall, the low touched 6336.
5 US dollars / ton, into the European session, London copper low rose above the daily moving average, and then the center of gravity gradually moved down to the daily moving average, as of 16 :52, London copper reported 6362.
5 US dollars / ton.
During the day, London copper continued to pullback, bulls took profits, market risk aversion heated up, and it is expected that London copper will continue to adjust in the short term
.
late
In terms of the market, Shanghai copper sharply pulled back nearly 1,000 yuan, the price difference narrowed slightly in the next month, the holder's morning market quotation tried to narrow part of the discount, but the market reaction was slightly delayed, the second trading session, flat water copper reported a discount of 40 ~ 30 yuan / ton was actively shipped, good copper discount 10 yuan / ton to flat water is more favored, so the holder further narrowed the quotation, good copper goods have been reported premium 10 ~ 20 yuan / ton, flat water copper correspondingly increased to a discount of about
20 yuan / ton.
After a week, the copper price was finally adjusted to below 50,000 yuan, traders and downstream took goods significantly increased, and the bargain hunting transaction improved
.
In the afternoon session, good copper continued to strengthen the premium, driving the quotation of flat water copper up, but the market continued to fall and the inquiry decreased, and the afternoon transaction was significantly weakened compared with the morning, flat water copper reported a discount of 30 yuan / ton - a discount of 20 yuan / ton, a good copper report of flat water - a premium of 20 yuan / ton, and the transaction price was 49560 yuan / ton - 49720 yuan / ton
.
On the news front, U.
S.
President Donald Trump continued to step up verbal threats against North Korea on Thursday, saying that even considering attacking the United States or its allies should be "very, very nervous.
"
The tension between the United States and North Korea has risen sharply, the market has a sharp hedging reaction, base metals have almost pulled back across the board, spot copper prices have fallen under pressure across the board, market trading is more cautious, and the industry is generally worried that short-term copper prices will continue to pull back under the pressure of capital profits, after all, copper prices have accumulated huge gains after continuous rise
.
The main 1710 contract of Shanghai copper opened low and went lower during the day, the current price is around 49800, the support is at 48000, if it loses, it will be seen at 45000
.
