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On Wednesday, the main contract of Shanghai copper 2003 opened at 45650 yuan / ton in the morning, and immediately rushed to the highest point of the day at 45730 yuan / ton after the opening of the day, copper prices briefly short-lived and then opened a sharp decline mode, the low level reached 45600 yuan / ton, and then rebounded slightly, the center of gravity hovered around 45630-45660 yuan / ton until the end of noon, non-ferrous metals fell in the afternoon, the plate continued to plummet to around 45510 yuan / ton, the low level has recovered, the end of the session closed at 45580 yuan / ton, down 30 yuan / ton tons, down 0.
07%.
In terms of external disk, London copper remained high overall
.
In the morning, the center of gravity of the morning session was basically maintained at $5750/ton, and the short-term touch was $5758/ton
in the afternoon.
In the afternoon, as market investors were affected by the epidemic in China, they were worried about the performance of copper market demand, and preferred safe-haven assets, the US dollar rose, copper prices were under pressure, and the upward force was obviously insufficient, so there was a straight decline at the end of the Asian session, and then entered the European market to test as low as 5720 US dollars / ton after the low level repaired, and re-fluctuated
around the daily moving average.
As of 17:00, London copper closed at $5,742/ton, up 0.
25%.
In terms of the market, Shanghai electrolytic copper spot contract reported a discount of 80 ~ 50 yuan / ton, flat water copper transaction price of 45360 yuan / ton ~ 45400 yuan / ton, and premium copper trading price of 45380 yuan / ton ~ 45420 yuan / ton
.
Shanghai copper hovers at the 5-day moving average, and the intraday volatility is large
.
In the spot market, shippers continue to increase, the morning market quotation is from the flat water copper discount of about 80 yuan / ton, good copper in the discount 60-50 yuan / ton range, the temporary continued to enlarge the discount as the previous day, but there are willing to receive enterprises, but most of them can be made warehouse receipts, or warehouse receipt quotations can be higher
.
Shanghai copper closed doji during the day, still failed to break through the upper 5-day moving average pressure level, the overall performance of the daily market is to probe the high and fall, the rush is still weak, because the market is currently facing the resumption of work, but due to logistics factors and other problems restrictions, and copper processing enterprises downstream customers have not yet resumed work, resulting in procurement and sales factors are still affected, although the resumption of work but the pace of production is still slow, the market is worried about the impact of the real economy, before the epidemic has not been controlled, the upward momentum is still insufficient
。 At present, there is also a lack of obvious signals for Shanghai copper bulls to continue to rise, continue to pay attention to the epidemic and the progress of the resumption of work in various places, and test whether Shanghai copper can stabilize 45,500 yuan / ton
.
