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On Friday, the main 1710 contract of Shanghai copper opened at 52470 yuan / ton, after the opening of the short position to leave the market, copper prices rose slightly at the 52650 yuan line, bulls high to reduce positions exit, Shanghai copper shock downward, low to 52410 yuan / ton, then Shanghai copper low back up, the center of gravity steadily moved up, the high to 52830 yuan / ton, the end of the slight correction, finally closed at 52770 yuan / ton, up 1010 yuan / ton
.
During the day, Shanghai copper trend is strong, refreshing the previous high, the lower moving average is arranged in turn, technical indicators KDJ, MACD are open upward, it is expected that Shanghai copper will still have upward momentum in the short term
.
In terms of the external market, London copper opened at 6702.
5 US dollars / ton, after the opening of London copper extended the daily moving average oscillation upward to 6717.
5 US dollars / ton, briefly fell back below the daily moving average, and then driven by the long increase in positions, London copper opened the upward mode, touched as high as 6747 US dollars / ton, climbed under pressure and fell, around the daily average of 6720.
7 US dollars / ton oscillation operation, as of 16:51, London copper reported 6724 US dollars / ton
.
During the day, London copper reached a new high, the entity completely stood at the 6700 US dollars / ton integer mark, the market bullish sentiment is strong, it is expected that the short-term London copper will continue to rise
.
In terms of the market, Shanghai copper jumped by 1,000 yuan, standing at 52,000 yuan / ton
.
The proportion of good copper in the market is still small, and the quotation is firm at the discount of 80 yuan / ton
.
If the price can be reduced, the transaction is
acceptable.
Imported low-end copper took the lead in self-discounting 120 yuan / ton slightly reduced to 130 yuan / ton, and the receipt did not see significant improvement
.
Copper continued to be strong, and copper remained
deadlocked.
The bill factor still makes the market price difference in the range of 10~20 yuan / ton
.
In the afternoon session, the quotation was stable, low-priced goods were difficult to find, the discount was slightly firm, the quotation was more, but the transaction was weak, flat water copper newspaper discount 120 yuan / ton - discount 100 yuan / ton, good copper newspaper discount 80 yuan / ton - discount 70 yuan / ton, the transaction price was 52280 yuan / ton - 52480 yuan / ton
.
In terms of news, data released by the General Administration of Customs showed that China's imports of copper ore and concentrate in July increased by 2.
78% year-on-year to 1,396,466, but fell slightly from the previous month
.
Imports from Peru and Chile both fell year-on-year, and this month Chile became once again the largest source of copper imports from China
.
At present, the recent LME copper inventory has maintained a sharp decline for many days, and the previous weekly stock also decreased by 16,646 tons to 187,000 tons, coupled with the market's stronger expectations for the future copper mine shortage, the bullish tone is still in place, and the copper price upward trend is expected to continue
.
