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Thursday's Shanghai copper main contract 1912 opened at 46530 yuan / ton in the morning, the opening immediately fell to the lowest level of the day of 46530 yuan / ton, almost broke the 46500 mark, then rose to 46630 yuan / ton after continuing to fall, the center of gravity briefly stabilized at the 46600 yuan / ton mark, and then the bulls entered, the market continued to rise until the close, closing at 46700 yuan / ton, up 30 yuan / ton, up 0.
06%.
In terms of external trading, Apanlon copper opened at 5671.
5 US dollars / ton, after the previous macro bearish was digested, coupled with the market for the limited agreement of Sino-US economic and trade negotiations, the opening copper price short-term downward after the center of gravity began to move up, in the morning to test 5717 US dollars / ton and here for range consolidation
.
The dollar index fell sharply in the afternoon as the minutes of the Fed meeting showed that most policymakers supported the need for a rate cut at the September meeting, driving London copper to continue to rise after entering the European session, and copper prices rushed to $5749/mt
.
After rising close to $5,750, it was blocked from falling, and the short-term retracement reached $5,721.
5 tonne, and then returned to around
$5,740/ton.
As of 16:20, London copper closed at $5742.
5/ton, up 0.
96%.
Shanghai copper continued to come under pressure to around 46500 yuan / ton, the plate continued to fall holders firm willingness to lift water, morning market holders quoted premium 130 ~ premium 150 yuan / ton, under the guidance of traders to continue to take the initiative to receive goods, the flat water copper of 130 yuan / ton was quickly collected, the confidence of the holder to raise the price was boosted, and the quotation continued to rise, flat water copper reported to 140 ~ 150 yuan / ton, good copper was raised to 160 ~ 170 yuan / ton
.
Copper price around 46500 yuan / ton is the downstream manufacturers generally recognized buying range, intraday downstream active buying increased significantly, traders and downstream have concentrated into the market, traders in the morning market continue to lead the tide of receiving goods, transaction preferences, market transactions to maintain a warm atmosphere
.
The spot market in the afternoon maintained a stable quotation range of high premium, as the afternoon price performance rebounded, downstream buying interest decreased compared with the morning, but because the inquiry sentiment remained positive, it also gave holders the confidence
to continue to hold prices.
