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On Wednesday, Shanghai copper rushed back down, the main month 1901 contract opened at 49090 yuan / ton, the highest intraday 49350 yuan / ton, the lowest 48720 yuan / ton, settled 48980 yuan / ton, closed 48820 yuan / ton, down 80 yuan, down 0.
16%.
In the external market, Apanlon copper showed a volatile trend, at 15:00 Beijing time, the latest quotation was 6049 US dollars / ton, up 1 US dollar, or 0.
02%.
In the market, the spot 1# copper price of the Yangtze River was reported at 49010 yuan / ton, up 140 yuan, and the premium was 90-110; Shanghai spot 1# copper price was 48920 yuan / ton, up 105 yuan / ton
.
In the spot market, low-priced sources were quickly digested, downstream purchases increased, and the overall transaction improved
.
In terms of industries, data released by the Bureau of Statistics showed that the national fixed asset investment from January to October increased by 5.
7% year-on-year, 0.
3 percentage points faster than that from January to September; the added value of industries above designated size in October increased by 5.
9% year-on-year, slightly better than expected and the previous value, or supported
the bottom of copper prices.
In terms of news, Luo Shengzhang, general manager of Jinmai, one of China's largest traders, said that as the world's largest metal consumer, China's copper demand is actually rising
.
"The current market is dominated by macro sentiment, not by micro levels
.
" He said
in an interview with Bloomberg ahead of the 2018 Asian Copper Summit.
The trade conflict and China's demand will be two major topics
to be discussed by industry insiders at this meeting.
The 2018 Asian Copper Conference will be held in Shanghai until this Friday
.
Intraday Shanghai copper 1901 contract low volatility, the end of the market closed at 48820, London copper 6000 US dollars repeatedly, short-term two markets are basically the bottom shock stage, for the spot, it is recommended to fall sharply to buy spot or the wisest, after all, the copper price as a whole is a bottom-building stage, Shanghai copper 1901 contract, no position can take more orders, there are many orders to continue to hold
.
It is still relatively safe
to go long at a price below 49000.
