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Wednesday Shanghai copper main contract 2002 opened at 49170 yuan / ton in the morning, the trend after the opening was slightly weak, the center of gravity slowly downward, until the end of the midday center of gravity fell to 49100 yuan / ton, in the afternoon some bulls have insufficient confidence in the market, continue to withdraw from the market, the center of gravity continued to slowly decline to around 49000 yuan / ton, the end of the session closed at 49070 yuan / ton, down 180 yuan / ton, down 0.
37%.
In terms of external trading, Apanlon copper opened lower at 6182.
5 US dollars / ton in the morning, opened slightly higher than 6187.
5 US dollars / ton, due to the interference of crude oil supply increment in the morning, copper prices maintained a volatile downward rhythm, and in the afternoon short-term down, and then the center of gravity basically remained around
6163 US dollars / ton.
After entering the European market, the market continued to maintain a narrow range at the beginning of the session, but then affected by the negative economic data of many European countries, copper prices once again showed a downward trend, testing a low of 6145.
5 US dollars / ton
in the evening.
As of 18:00, London copper closed at 6156.
5 US dollars / ton, up 0.
23%.
In terms of the market, Shanghai copper sideways 49,000 yuan / ton of the first line
.
The morning market continued the previous day's quotation discount of 20 yuan / ton ~ flat water, but it is difficult to have a transaction, the quotation was adjusted to a discount of 30 ~ discount 20 yuan / ton, but there is still a lack of response, there are individual holders of goods leading the dumping of good copper, good copper adjusted down to a discount of 30 yuan / ton nearby, and even there is still room for price pressure, and flat water copper almost no price difference, flat water copper as low as 50 ~ discount 40 yuan / ton, the transaction has not improved, is still more quotations, receivers are more wait-and-see, due to the continuous closure of the import window, the source of wet copper is reduced, The quotation narrowed slightly from yesterday to a discount of about
70 yuan / ton.
After eleven o'clock, the plate has sunk slightly, and it has been heard that the price of flat water copper is as low as 70 yuan / ton
.
There is a lack of interest downstream, the atmosphere of inquiry is not as good as the previous day, the speculative atmosphere of traders is weak, and the market has no intention of receiving goods, which makes it difficult to improve the transaction
.
The light situation in the afternoon has not changed for the time being, and the continued light has aggravated the sentiment of cargo holders to exchange cash, and they began to actively lower their quotations in order to seek transactions
.
The center of gravity of Shanghai copper fell slightly during the day, and the overall stability remained around 49,000 yuan / ton, mainly because the current British election and good trade news was gradually digested by the market, investors were worried about the UK and the EU to reach a free trade agreement before the end of 2020, the risk of hard Brexit increased, the center of gravity of Shanghai copper was affected by the linkage to move downward, superimposed API crude oil inventories continued to increase sharply, reflecting the need outlook worries are still there, the overall limit of Shanghai copper growth
.
