The center of gravity of Shanghai copper has moved up significantly, and the market has a strong bullish atmosphere

In terms of external trading, London copper opened at 5977.
5 US dollars / ton, after the opening copper price center of gravity slowly moved up, then around the daily moving average consolidation, the US dollar index in the afternoon rapid leakage, bulls increased their positions into the market, London copper rose sharply, standing on the 6000 US dollars / ton integer mark, and then around 6006 US dollars / ton shock operation, into the European session, SHFE and LME copper inventories are reduced, London copper strong upward, as of 16:45, London copper reported 6038 US dollars / ton
.

In terms of the market, the Shanghai futures market is about 100 yuan / ton higher than yesterday morning, the Shanghai ratio is still lower than 8, the import copper shipments have decreased significantly, the holders have no financial pressure, and the copper market continues to be optimistic, the morning market quotation is significantly up, flat water copper and good copper price difference is only 10~20 yuan / ton
.
And just entered the late July, there has been a problem of bill demand, the market supply is tight, the price of the holders is strong, there is no room for price reduction, the receivers are still mostly long-order delivery demanders, the downstream remains just need to buy, and the market transaction is tepid
.
If the ratio remains low, imported copper shipments continue to be blocked, and the discount is still expected to shrink
next week.
In the afternoon session, the plate rose, the basis expanded in the next month, the willingness of holders to ship increased, the discount appeared loose, the shipment quotation increased compared with the morning, flat water copper reported a discount of 60 yuan / ton - discount 40 yuan / ton, premium copper newspaper discount 40 yuan / ton - discount 30 yuan / ton, the transaction price further rose to 47740 yuan / ton - 47880 yuan / ton
.

On the news front, U.
S.
Treasury yields were little changed on Thursday as weak demand for the sale of U.
S.
10-year inflation-protected bonds (TIPS) led to inflation fears that pushed the ECB to maintain its pledge of accommodative monetary policy buying
.
The dollar fell to a near two-year low against the euro on Thursday after European Central Bank President Mario Draghi said policymakers would discuss options
for adjusting the bond-buying program in the fall.
Analysts said the blockage of the Republican health care bill in the Senate late Monday was also one
of the reasons for keeping the dollar weak.
In addition, weak economic data has cooled expectations that the US Federal Reserve will cut interest rates again this year
.
LME three-month copper closed down 0.
1 percent at $
5,958.
50 a tonne.

During the day, the main 1709 contract of Shanghai copper closed higher, and the tail market closed at 48000, the momentum of the continuous rise was insufficient, and the 48000 line of long orders all took profit
.