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Friday's Shanghai copper main contract 1911 opened at 47590 yuan / ton in the morning, after the opening slightly down the center of gravity basically maintained a stable position at 47550 yuan / ton, close to the noon slight decline to test the lowest point of the day 47330 yuan / ton, then rebounded slightly, the afternoon continued to rise to around 47500 yuan / ton, the end of the session fell slightly and closed at 47450 yuan / ton, up 460 yuan / ton, or 0.
98%.
In terms of external trading, Apanlon copper opened at $5840 / ton, and briefly consolidated around this position after the opening, during which it tested 5845 US dollars / ton
.
Copper prices began to fluctuate downward around 9 o'clock, testing a low of $5,803 / ton
during the session.
After approaching the 5800 mark, bulls increased their positions on the dip, and copper prices quickly rebounded
.
Pre-European copper prices approached the 5800 mark again, low to 5805 US dollars / ton, after entering the European session, copper prices rebounded to near the daily moving average and began to fluctuate
.
In terms of the market, the warming of the macro atmosphere has continued the rebound trend of Shanghai copper, and the center of gravity of Shanghai copper has moved up to around 47400 yuan / ton, an increase of about
400 yuan / ton 。 Holders maintain the willingness to rise water, the morning market continued the previous day's quotation premium 110 ~ premium 140 yuan / ton, the market high willingness to receive goods was suppressed, the overall transaction activity decreased compared with yesterday, some holders in order to make a profit for safety, active shipments, flat water copper concentrated transaction in the premium 100 ~ premium 110 yuan / ton, some brand sources can be pressed to 90 yuan / ton, good copper premium concentrated transaction at premium 120 ~ 130 yuan / ton
。 The continuous sharp rise of copper has inhibited consumption, and trade activity has also decreased accordingly, but the market circulation is still limited, and the supply and demand sides show a deadlock pattern, and the pattern of high premium is difficult to break
for the time being.
In the afternoon, due to the last trading day of the week, and the market price was at a high level, the overall trading sentiment was suppressed, so the cargo performance of the holders was more positive, and there was a situation
of low-pressure shipments.
The center of gravity of Shanghai copper continued to maintain a high level
of 47,500 yuan / ton.
First, the market sentiment eased due to the resumption of a new round of negotiations between China and the United States, and secondly, the market expected the Fed to cut interest rates further, and the dollar fell, which boosted copper prices
.
The market is now waiting for the US non-farm payrolls data and Powell's speech on the US economic outlook and interest rate policy to guide the further movement of the US dollar, which in turn will guide copper prices
.
