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On Wednesday, the main force of Shanghai copper 1707 opened slightly lower 45,050 yuan, then the price slightly rushed up 45,190 yuan, after which the price fell slightly, the price fluctuated narrowly before the afternoon, and the price plunged sharply in the afternoon, once falling to 44,850 yuan, closing at 44,850 yuan, down 280 yuan, down -0.
62%, and the index position increased by 5,946 lots to 585,000 lots
.
In terms of external trading, LME copper opened low at the lowest $5616 in the morning in March, and then the price fluctuated higher, once rising to $5644, after which the price fell slightly, and the price plunged in the afternoon, once falling to $5588, and the Asian market closed at $5593.
5, down $24.
5, or -0.
44%.
In terms of the market, the market trading in the morning mainstream trading session is general, the holders are actively quoting, the copper premium discount is relatively firm, and the downstream of the day favors the low-price premium copper supply, but the overall market buying interest is limited, and the lack of procurement confidence leads to the average transaction
.
Among them, good copper b20-b30 yuan / ton, flat water copper b00-c10 yuan / ton, wet copper C80-c70 yuan / ton
.
In terms of news, the central bank put 180 billion reverse repurchase operations in the open market, and at the same time 240 billion reverse repurchase expired, resulting in a net withdrawal of 60 billion yuan in a single day, and the shortage of funds has eased in the short term, but the tense pattern has not changed
.
Abroad, the US dollar index is in a continuous downward trend, which has some support for copper prices, but the current COMEX copper inventory continues to increase to 159,000 tons, copper prices have been rising, the current weak consumption off-season dragged down the price recovery, while Sino-US economic data show that the slowdown in economic growth has also put significant pressure on the copper market, in addition to the continuous appreciation of the RMB exchange rate has made domestic copper prices lose their advantage
.
From the futures plate point of view, Shanghai copper fell below the moving average within the day, and here is also the descending flag descending trend line position, the current KDJ high dead cross, MACD close to the dead cross, copper market still has the possibility of falling, continue to pay attention to downstream procurement
.
