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On Wednesday, the main Shanghai copper contract 1909 opened at 46960 yuan / ton in the morning, and after the opening, the market slowly oscillated upward to 47070 yuan / ton, and then fell to the lowest level of the day at 46960 yuan / ton, and the center of gravity continued to move up after a slight consolidation until the
afternoon.
In the afternoon, the market still fluctuated upward to 47080 yuan / ton, and then the center of gravity basically remained stable here, closing at 47090 yuan / ton
at the end of the session.
It fell by 250 yuan / ton, down 0.
53%.
In terms of external trading, Yapanlon copper opened as low as 5980 US dollars / ton, after the opening of the Asian market copper price basically around the daily moving average narrow range, the initial test low of 5971.
5 US dollars / ton, but soon recovered some of the decline, the morning amplitude did not exceed 20 US dollars / ton
.
Until entering the European market, as the US dollar high fell back to the 97.
7 position, and the pound rebounded sharply, copper market confidence boosted, bulls entered the market positively, copper prices pulled all the way, returning to 6008.
5 US dollars / ton, but 6000 US dollars pressure, copper prices began to fall, and then lost 6000 US dollars integer mark
.
As of 17:30, London copper was reported at $5992.
5 / ton, up 0.
09%.
In terms of the market, the futures fell holders tried to raise the premium quotation, the holder quoted a premium of 30~80 yuan / ton, traders still have the willingness to receive the goods, but the quotation is unattractive, after a stalemate for a while, good copper is lowered to 50~60 yuan / ton There is a concentrated transaction, flat water copper actively adjusted to about 10 yuan / ton, it is difficult to have room for price reduction for the time being; The downstream inquiry increased, there was a willingness to enter the market on the dip, and the quotation of wet copper was raised to a discount of 50 ~ 30 yuan / ton range
.
The market is under pressure, but has not yet reached the ideal price range downstream, although there are buying orders downstream but most of them are cautious, traders continue to be accompanied by the willingness to receive goods, but there is no discount quotation, so it has not reached its buyable price range, under the tug of supply and demand, it is difficult
for the premium to continue to rise.
The afternoon transaction quotation is basically unchanged, due to the small rise in the afternoon price, the market transaction sentiment gradually cooled down, the supply and demand sides are still in the tug-of-war, it is difficult to find a low-priced source, in the afternoon flat water copper reported 10-liter water 30 yuan / ton, good copper reported 50-liter 60 yuan / ton, the transaction price was in the range of 46980 yuan / ton - 47060 yuan / ton
.
The overall trend of the Shanghai copper market was stable during the day, mainly due to the US dollar at a high level in recent days, the high has exceeded 97.
76, and copper prices are under pressure
.
And the new British prime minister took office, the UK is still facing Brexit pressure, the European economic slowdown trend is obvious, and the negative copper price is higher
.
