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On Wednesday, the main 1901 contract of Shanghai copper opened at 49350 yuan / ton in the morning, the copper price at the beginning of the session was narrowly sorted out below the daily moving average, during the period of 49300 yuan / ton, before the afternoon of the Asian market, London copper pulled up, Shanghai copper was boosted by this, a large number of bears left the market, long positions entered, the center of gravity of copper prices slowly oscillated upward to above the daily moving average, repeatedly tested to 49600 yuan / ton The first line was blocked, and the high of 49620 yuan / ton was blocked during
the period 。 In the afternoon, London copper fell from a high of 6192 US dollars / ton, Shanghai copper was dragged down by this, the center of gravity slowly fell to around 49400 yuan / ton after narrow consolidation, bears brought positions in, copper price center of gravity fell slightly back to around 49330 yuan / ton, at the end of the day, more into the short flat, copper price center of gravity rose slightly, closing at 49470 yuan / ton, down 190 yuan / ton, down 0.
38%.
Externally, London copper morning market opened at 6155 US dollars / ton, London copper near the daily moving average narrow consolidation, due to the US midterm elections, the market for the Republican government expectations, the dollar index rose from 95.
90 to 96.
42, London copper under pressure shock downward fell below the daily average, and fell to the intraday low of 6136.
5 US dollars / ton to be supported, the dollar index fell slightly, the center of gravity of London copper rebounded slightly to 6150 US dollars / ton, more pressure on the daily moving average and along the daily moving average narrow range
。 Before the afternoon of the Asian session, the dollar index gave up almost all of the day's gains to fall back to around 95.
92, and London copper quickly climbed near $6170 / ton before continuing its efforts, rushing to the 6190 / ton line
.
In the afternoon, the US index edged stronger, and London copper gave up most of its gains in the afternoon, falling back to near $6157/mt below the daily moving average
.
In terms of the market, overnight London copper fell, Shanghai copper fell with it, the monthly price difference between the morning interval was still 50 yuan / ton, the downstream market after the decline in the market has improved, so that the willingness of holders to control the price of goods is further enhanced, the morning market holders quote premium 20 ~ 50 yuan / ton, the market transaction is positive, and the holders continue to raise prices
.
Entering the second trading stage, the market activity is high, the inquiry atmosphere is active, the spot quotation is raised again, the flat water copper quotation to the premium 50 ~ 60 yuan / ton, good copper has been premium 80 ~ 90 yuan / ton, downstream bargain buying, maintain the rhythm of just demand, wet copper quotation followed the
upward adjustment.
After eleven o'clock, the market rose 100 yuan / ton to 49600 yuan / ton line, because the price difference in the next month is still 80 yuan / ton, the market quotation remains unchanged, but the transaction is not as good as the morning market, traders are willing to receive the goods cooled
.
Intraday trading is dominated by trade speculators, the premium is aimed at the change of the price spread in the next month, and the guidance of the change in the price spread is paid attention to in the later stage, and traders still have some room for expectations for the premium before delivery
.
During the day, the main force of Shanghai copper closed three consecutive negatives, and the center of gravity fell again, but it was supported by the 5-day moving average, continued to pay attention to the short position increase, waiting for external guidance, and tested whether the main center of gravity of Shanghai copper continued to fall near the 40-day moving average
.
