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On Thursday, the Shanghai copper main 1812 contract opened at 48920 yuan / ton in the morning, the copper price quickly touched 48980 yuan / ton at the beginning of the session was blocked from falling, when the high short position entered, the bulls were washed out of the market, the center of gravity of copper prices fell rapidly, and then sorted out along the 48782 yuan / ton line, the amplitude gradually narrowed from 70 yuan / ton to 20 yuan / ton
。 In the afternoon, a large number of bears increased their positions, bulls left the market, Shanghai copper main force 1901 center of gravity shock downward to 48500 yuan / ton, then along the 48535 yuan / ton a narrow range, during the period down to the low of the day 48450 yuan / ton to get strong support, at the end of the day, more into the short flat, copper prices recovered part of the afternoon decline, closed at 48670 yuan / ton, down 420 yuan / ton, down 0.
86%.
In terms of external trading, London copper morning market opened at 6008 US dollars / ton, copper prices in the morning session relying on 6000 US dollars / ton around the daily average narrow range, the amplitude is less than 10 US dollars / ton, in the afternoon, affected by the slight strengthening of the US index, London copper quickly fell below 6000 US dollars / ton, the center of gravity fell sharply, touched the intraday low of 5974.
5 US dollars / ton, touched low because the US index high fell back, copper prices rebounded at a low level, returned to the daily moving average above, and then rushed 6050 US dollars / ton line, rushed high blocked 6051 US dollars / ton, as of 17 :30, London copper reported 6042.
5 US dollars / ton.
In terms of the market, overnight Shanghai copper gap opened low and went low, completely lost 49,000 yuan / ton, the morning contract narrowly sorted out around 48,730 yuan / ton, the upper and lower volatility was less than 50 yuan / ton, the spot market performance is also relatively calm and
deadlocked.
On the first trading day of November, the holder maintained stability on the previous day's quotation in the range of 10 yuan / ton ~ 30 yuan / ton of premium, and willing buyers could lower the price of copper premium 20 yuan / ton, but it was not the same
as the previous day.
Although some traders enter the market to close low prices, but because the price difference narrows to 20~30 yuan / ton in the next month, there is little space for speculation and buying and selling, which inhibits traders' willingness to speculate; Downstream bearish copper prices are also in no hurry to enter the market, only to maintain rigid demand
.
Under the continuous closure of the import window and just entering November, the holders have no intention of selling goods, so the spot market is still stuck in a stalemate between supply and demand in the short term, and it is difficult to show a unilateral situation
for the time being.
During the day, the main center of gravity of Shanghai copper moved down sharply again, the center of gravity fell to the lower Bollinger rail, the low level has fallen to the gap formed around September 20 in the early stage, the MACD green energy column is expanding, and the KDJ opening has expanded sharply, testing whether the low level of the Shanghai copper negative entity can hold 48500 yuan / ton
.
