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On Tuesday, the bottom of Shanghai copper's main force 1706 fluctuated, and after the morning open, copper prices immediately came under pressure and went lower, once falling to around 44570 yuan in the afternoon to rebound, and rebounded all the way to around
44800 yuan in late trading.
It finally closed at 4,730 yuan, down 35 yuan, or -0.
78%, and the index position decreased by 5,814 lots to 602,000 lots
.
In the external market, the LME copper bottom closed at the bottom in March, opened as high as $5499 in the morning, rushed to $5514 after opening and came under pressure, the price fluctuated down to $5477, and the price rebounded in the afternoon, once deep V above the red market
.
The domestic trading session closed at $5494.
5, down $3, or -0.
05%.
In terms of the market, the market trading in the morning mainstream trading session is weak, the supply of spot copper is sufficient, the brands are diversified, and the premium has narrowed, but the downstream consumption is sluggish, the shipment situation is very poor, the holder can only lower the premium transaction, and there is no obvious downstream entry into the market in the afternoon, and the transaction is weak
.
Good copper to 1706 contract reported B50-B60 yuan / ton, flat water copper B30-B40 yuan / ton, wet copper C10-B00 yuan / ton or so
.
According to the survey results of the Shanghai Nonferrous Metals Trading Center, most traders continue to hold an upward view, and a small number of traders hold a volatile view
.
Fundamentally, the latest April import and export data restrictions, unwrought copper and copper imports fell 30.
2% from the previous month, down a third year-on-year, mainly due to the sluggish outlook for production activities, real estate market regulation and control led to weakening demand in China, although Peru may consider a new round of strikes in the near future, but the impact is limited, and the copper market as a whole faces downside risks
.
From the futures disk point of view, the daily K-line was suppressed by the 30-day moving average, the 5-day moving average turned up to cross the 60-day moving average and there was support below, short-term attention to whether the price can stand at BOLL mid-band 48,000 yuan, MACD black line slightly narrowed about to golden cross, KDJ gold cross diverged
upward.
Short-term copper prices may be mainly adjusted by shocks, and continue to pay attention to downstream procurement
.
