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It was the Christmas holiday and the market
was closed.
Wednesday Shanghai copper main contract 2002 morning opened at 49480 yuan / ton, after the opening copper price winding around the daily moving average, the center of gravity briefly stabilized at 49460 yuan / ton, near the end of midday, the plate pulled up to around 49550 yuan / ton, the afternoon market optimism continued to spread, bulls actively entered the market trading, the copper price rose to 49700 yuan / ton, and then the market was hesitant about the high, and quickly fell back to around 49500 yuan / ton, but the bull force is still strong, Shanghai copper immediately recovered strongly to around 49,670 yuan / ton, and closed at 49,600 yuan / ton, up 310 yuan / ton, or 0.
63%.
In terms of the market, due to the closure of the Christmas LME, Shanghai copper continued to be strong under the guidance of no external market, and the main force rose above 49500 yuan / ton
.
The annual long order is basically over, the demand for monthly tickets weakens, the proportion of quotations is significantly reduced, and a small number of market holders of monthly tickets have the willingness to raise prices, but the demand difference quotation is adjusted from discount 70 ~ discount 50 yuan / ton to discount 100 ~ discount 70 yuan / ton, the wet copper quotation of the monthly ticket is about
130 yuan / ton.
The market next month ticket quotation proportion increased, the holder of the shipment actively, holding the next month ticket holder quotation from the discount of 120 ~ discount 80 yuan / ton to discount 140 ~ discount 100 yuan / ton, the demand for the next month pass has not been carried out in large quantities, so the market reaction is weaker
.
Copper prices have risen sharply, downstream is afraid of high buying and downturning, and downstream companies are gradually joining the team of year-end settlement
.
Copper prices will continue to consolidate strongly before the end of the year, traders will gradually fade out of the market due to year-end settlement, the market trading atmosphere has faded, and the stalemate pattern will continue before the end of the year
.
In the afternoon, the market continued to be light, some enterprises entered the state of capital settlement at the end of the year, market participants gradually decreased, and the market quotation did not change
greatly.
The market is closed for days and abroad, and the overall macro expectation is good near the end of the year, mainly because the country has continued to carry out open market operation business in recent days, and adopted reverse repurchase policies to invest funds one after another, reflecting the willingness of the domestic central bank to release liquidity steadily, giving market confidence and benefiting the copper market
.
At present, Shanghai copper has hit a new high in August, and the high has exceeded the 49,700 yuan / ton mark, and the KDJ indicator golden cross is positive, which is beneficial to the copper market
.
