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On Wednesday, the price of the main 1709 month contract of Shanghai copper maintained a weak shock operation after the open, and the price rebounded in the afternoon, but then fell slightly back to near the average price line, and the price continued to rise and turn red before the close, rising as high as 47980 yuan
.
It closed at 47,960 yuan, up 120 yuan, or 0.
25%, and index holdings increased by 10,516 lots to 612,000 lots
.
In terms of the external market, LME copper opened in a narrow range around $6,000 after the open, and then the price fell back to a minimum of $5,988, after which the price rebounded, the price turned red in the afternoon, and then fell back slightly, and the price rose sharply to $6,019 at the end of the day, and maintained volatility at a high level
.
The final price closed at $6,016, up $12, or 0.
20%.
In terms of the market, the market trading in the morning mainstream trading session is general, the holders are actively quoting, the intraday market supply has decreased, and the current copper discount has narrowed slightly, the current premium copper C60-C70 yuan / ton, flat water copper C100-C90 yuan / ton, wet copper C130-C120 yuan
.
Downstream is more looking for low-priced sources, wet copper transaction is better, but mainly on-demand procurement, the transaction is
acceptable.
In terms of news, the dollar strengthened slightly in the morning, and the copper market also took advantage of the trend to adjust, after China's industrial activity heated up to help drive economic growth in the second quarter, providing support to copper prices and standing at a new high in nearly four months, copper prices rebounded in the afternoon against the background of black continuing to soar, and the overall copper market is still strong
.
On the plate, Shanghai copper rebounded slightly to the 5-day moving average during the day, forming a positive and negative trend on the daily K, MACD, KDJ continue to double golden cross, it is expected that short-term copper prices or will be ready to wait for further upward breakthroughs, continue to pay attention to downstream procurement
.
