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On Tuesday, the Shanghai copper main 1804 contract opened at 51670 yuan / ton, after the opening of the copper price center of gravity stepped up, before the close of the morning session, copper prices stabilized at 52100 yuan / ton, in the afternoon bulls took the lead in increasing positions to enter, bears then reduced positions, driving copper prices to continue to rise, high to 52300 yuan / ton, the end fell slightly, and finally closed at 52140 yuan / ton, up 780 yuan / ton, the position increased by 3790 hands to 240,000 lots, the trading volume decreased by 89366 hands to 179,000
。 The Shanghai Copper Index rose 17,816 lots to 811,000
.
Copper prices are expected to continue their high volatility
.
In terms of the external market, London copper opened at 6851.
5 US dollars / ton, after the opening of the dollar fell London copper to open the upward mode, to 6903 US dollars / ton after London copper rally temporarily suspended consolidation operation, in the afternoon, London copper rose again, touched to 6947 US dollars / ton, then the upward momentum weakened, London copper high fell back below the daily moving average, as of 17:08, London copper reported 6899.
5 US dollars / ton
.
During the day, London copper relied on the 5-day moving average to oscillate higher, and it is expected that 6900 US dollars / ton may be repeated
.
In terms of the market, the Shanghai period copper low rose 300 yuan / ton, the market basically entered the holiday mode, the quotation is scarce, the quotation divergence is large, some good copper quotation discount of about 200 yuan / ton, flat water copper discount 300 ~ 280 yuan / ton, the market is already a Spring Festival atmosphere, few people echo the transaction
.
After the second trading session rebounded, some traders underestimated the price to receive the goods, and the transaction was more than 250 yuan / ton for good copper discount, 350~300 yuan / ton for flat water copper, and 500 yuan / ton
for wet copper.
The Spring Festival is approaching, logistics has stopped, and warehousing will also be on holiday, so receiving goods is only suitable for the transfer of speculative traders, and is no longer suitable for outbound shipments
.
Speculators based on the expectation of narrowing the discount and the rebound of the plate after the holiday, and the price is reduced, in the afternoon, individual traders with financial strength still have the willingness to receive goods with a large discount, flat water copper discount 380-350 yuan / ton, the transaction is 51500-51560 yuan / ton, good copper discount 300-discount 280 yuan / ton, the transaction is 51560-51700 yuan / ton
.
Up to now, most domestic metal companies have entered the holiday mode, and price fluctuations are difficult to have a substantial impact
on market transactions.
Due to the small number of pre-holiday materials prepared by downstream manufacturers this year, holders generally expect that with the recovery of demand after the holiday, manufacturers have rigid replenishment needs, coupled with the lack of import resources to replenish, the supply of recycled copper is expected to continue to be in short supply, which supports post-holiday copper prices
.
