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On Wednesday, the Shanghai copper main 1808 contract opened at 50900 yuan / ton, in the morning session, copper prices have been around the opening price near a narrow consolidation, long and short into a tug-of-war, but as soon as the afternoon opens, the bears are menacing, have entered the market to suppress, copper prices open the downward mode, all the way to the rush, the low to 50010 yuan / ton, then 50000 yuan / ton integer close temporarily supported, the day the short partial liquidation brought copper prices a slight repair, and finally closed at 50100 yuan / ton, down 1230 yuan / ton, The decline was 2.
4%.
In terms of the external market, London copper opened at 6518 US dollars / ton, morning session, low open high, along the daily average from 6520 US dollars / ton gradually get rid of the daily moving average entanglement, all the way up, and along the daily moving average, climbing to the intraday high of 6566 US dollars / ton was blocked to fall, in the afternoon, London copper gave up part of the morning gains, based on the daily moving average, supporting 6550 US dollars / ton narrow range, into the European session, the dollar rushed, the base metal was generally pressured to fall, After Lun copper fell below the daily moving average, it repeated a little at $6530 and then opened the downward mode, directly breaking $6500, testing down $6423 / ton, short positions closed the market to rise slightly to 6460 US dollars / ton A line of shock, as of 17:30, London copper reported 6458.
5 US dollars / ton
.
In terms of the market, the domestic spot copper price fell today, and the Guangdong spot 1# copper price was 50780 yuan / ton, down 380 yuan; Yangtze River spot 1# copper price reported 50720 yuan / ton, down 350 yuan, discount 10 - 30 liters; Shanghai spot 1# copper price was 50690 yuan / ton, down 390 yuan
.
The market continued to decline, although the downstream inquiry is still more active, but the actual buying power is not as strong as the previous day, traders account for a relatively large proportion of transactions, the overall transaction of the market is acceptable, there is a certain degree of
sustainability.
In the afternoon, Shanghai copper fell further, down 500 yuan / ton from the morning, the holder's quotation was firmer, the discount narrowed, and the initial signs of rising water, with the accelerated decline of the plate, the sentiment of the holder to sell and raise the price for sale was further fermented, flat water copper has been discounted 40-30 yuan / ton, good copper reported flat water to 10 yuan / ton, the transaction price was 50200-50650 yuan / ton
.
Overall, Sino-US trade tensions show no signs of easing for the time being, the United States will impose tariffs on Chinese goods on Friday, and China has repeatedly made clear statements to resolutely defend national interests and people's interests
.
Market concerns about this are very obvious, copper prices continue to come under pressure, and Shanghai copper is expected to remain weak
.
