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Friday's Shanghai copper main contract 1910 opened at 46230 yuan / ton in the morning, the center of gravity basically maintained around 46260 yuan / ton after the opening, close to noon slightly pulled up to around 46330 yuan / ton, the afternoon opening pulled up, the plate all the way to the highest point of the day 46420 yuan / ton, then fell slightly, the center of gravity was basically stable around 46400 yuan / ton, and closed at 46400 yuan / ton
.
Up 30 yuan / ton, an increase of 0.
06%.
In the external market, Apanlon copper opened at 5692 US dollars / ton, and continued to decline to 5680 US dollars / ton after the opening, but due to the market's certain optimism about Sino-US trade negotiations, bulls began to increase their positions on the dip, and the overall center of gravity of copper prices began to move
up.
After entering the European session, the upward trend continued, and the intraday copper price tested 5725.
50 US dollars / ton
.
Affected by the uncertainty of Fed Chairman Powell's speech, copper prices lacked momentum and fell back to $5701 / ton
after rushing higher.
As of 17:30, London copper was trading at $5,705 / ton, up 0.
18%.
In terms of the market, the center of gravity of Shanghai copper moved slightly down to the first line
of 46200 yuan / ton.
Market spot quotation to maintain stability, holders continue yesterday's quotation premium 70 ~ premium 100 yuan / ton, flat water copper holders quotation insisted on premium 70 yuan / ton, part of the source of goods can be reduced to 60 yuan / ton when the transaction buying slightly increased, good copper transaction concentrated in the premium 80 ~ premium 90 yuan / ton, downstream continued to maintain rigid demand, wet copper around the premium 30 yuan / ton line quotation
.
The weekend is coming, the monthly long order is nearing the end, the supply performance is abundant, the spot quotation is stable, the market consumption is weak, and the activity of the trade market is difficult to increase, which makes the market quotation stalemate again
.
In the afternoon, because today is the weekend, and the face price has risen, the overall trading activity of the market has declined, but the current impact of wet copper is not abundant, giving holders the confidence to hold prices, and the stalemate continued in the afternoon
.
The overall center of gravity of the intraday market moved slightly upward, because after falling to a low level overnight, the bears partially withdrew from the market over the weekend, and copper prices recovered slightly, returning to the 46400 yuan / ton mark
.
However, the global economic weakness is still continuing, copper is difficult to rush high, while the trade turmoil is still fermenting, and the market needs to be vigilant against risks
.
Waiting for the external guidance test, whether Shanghai copper can continue to hold the 46400 yuan / ton mark
.
