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Wednesday Shanghai copper main contract 1907 opened at 46990 yuan / ton in the morning, the overall opening maintained stability at 46970-47050 yuan / ton range narrow range shock finishing, during the period of many attempts to high 47050 yuan / ton, noon long position reduction, the plate shock fell to 46890 yuan / ton, although copper prices briefly recovered to 46980 yuan line, but the afternoon continued to open a downward trend, the end of the session down to the intraday low of 46790 yuan / ton, and closed at 46810 yuan / ton, down 420 yuan / ton, A decrease of 0.
89%.
In terms of external trading, Apan Lun copper opened at 5962 US dollars / ton in the morning, the opening was both intraday high, showing a gradual decline during the day, the US dollar continued to maintain a stable high, and upward test the 98 mark, London copper noon center of gravity fell to 5945 US dollars / ton position narrow range shock
.
Entering the European market, bulls took the initiative to reduce their positions, copper prices fell widely, and after the US dollar broke through the 98 mark, copper prices quickly tested 5885.
5 US dollars / ton
.
As of 17:40, London copper was at $5893 / ton, down 1.
17%.
In the market, the dollar rose overnight, Shanghai copper came under pressure and fell, and copper prices fell below 47,000 yuan / ton and fell to 46,900 yuan / ton
.
After the fall of the market, the market has a strong willingness to lift water, the morning market quotation premium 30 ~ premium 60 yuan / ton, the morning market buying is strong, the transaction is enthusiastic, flat water copper premium 30 yuan / ton was quickly collected, so the holder raised the flat water copper quotation to 40 ~ 50 yuan / ton, good copper quotation to 80 / ton, the market still has the willingness to
buy after the premium is raised.
Intraday traders lead the market to buy, low water supply is attractive, and holders are still willing to push up water
.
In the afternoon, due to the light market transaction, the high premium inhibits the market transaction, so the fanaticism of the holders has cooled down, the quotation temporarily got rid of the highest level in the morning, in the afternoon, flat water copper reported 40-liter water 50 yuan / ton, good copper reported 70-liter water 80 yuan / ton, the transaction price was in the range of 46880 yuan / ton - 47020 yuan / ton
.
In terms of short-term rhythm, due to the impact of Trump's announcement of tariffs on China, copper prices have dipped down, and the recent decline has been large, and there is a panic selling factor, so it does not come from the downward momentum
brought by its own supply and demand.
