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On Wednesday, Shanghai copper opened at 38,070 yuan / ton, Shanghai copper bulls sharply increased their positions by more than 40,000 lots, pulling copper prices straight up to 39,210 yuan / ton, refreshing the high since March 7, up 5.
5% intraday, afternoon long profit outflow, reducing positions to more than 10,000 hands, copper prices fluctuated back to near the daily moving average, recorded a longer upper lead, closed at 38,580 yuan / ton at the long white line, up 1520 yuan / ton, or 4.
10%.
Abroad, London copper opened at 4891 US dollars / ton, Asian session London copper briefly retraced 4870 US dollars / ton, easing policy expectations, bulls rushed into the market, London copper straight unilateral soared to 5032 US dollars / ton, recorded a new high in ten weeks, then consolidated at a high level, the end of the Asian market with a slight recovery of the US index, some bulls profit closed the bag for safety, copper prices fell at a high level, the European session at 4945 US dollars / ton is ready to consolidate, as of 17:30, London copper reported 4935 US dollars / ton, up 1.
14%
。
In terms of the market, Shanghai electrolytic copper spot reported a discount of 40-liter 40 yuan / ton, flat water copper transaction price of 38080 yuan / ton - 38900 yuan / ton, liter copper transaction price of 38120 yuan / ton - 38940 yuan / ton
.
Shanghai copper rose sharply, and now copper rose and expanded underwater, and the market wait-and-see atmosphere was strong and light
.
Near delivery, the 1607 contract quotation is unstable, holders have quoted the 1608 contract, the opening of the 08 good copper premium of 50 yuan / ton, flat water copper flat water, but the downstream continues to buy high-priced copper
.
After the start of the second session, the market continued to rise, and the remaining traders were also holding back
.
15 minutes before the close of the afternoon market, copper impact 39,000 yuan / ton, up 1,000 yuan / ton in the early session, early speculators want to cash in profits, so that the spot market dumps out, flat water copper to 08 contract discount more than 40 yuan / ton, good copper premium 20 yuan / ton, but in the face of such a crazy copper market, the market to wait and see, showing the current price of no market
。 In the afternoon, copper prices left the afternoon market high, slightly adjusted and fell, holders flat water copper discount continued to expand, but good copper is still hard and small liter 10 yuan / ton, spot quotation discount 80-liter 10 yuan / ton, the transaction price is located at 38280-38850 yuan / ton, the quotation is reduced, it is still difficult to trade
.
Copper futures are high, trading prices are suppressed, and cautious waiters are increasing
.
Today, Shanghai copper has become the star of the commodity market, as a leading commodity once approached the limit of the market
.
This is not easy
at a time when the economy is still weak.
Although China's spot copper market has fully entered the traditional consumption off-season, weak consumption in the off-season has not dominated the trend of copper prices, and futures copper prices are oscillating to the upside, which is mainly affected by macro factors
.
In addition, the tension in the South China Sea also stimulated the rise
of crude oil and copper in the short term.
Now commodities are favored by funds, especially floating capital, although copper has fallen after a sharp rise, but the short-term strong pattern has not changed
.
