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On Wednesday, the domestic copper market fluctuated and sorted, rushed high within the day without results, and fell back in the afternoon
.
The main monthly 1810 contract of Shanghai copper opened at 48850 yuan / ton, the highest intraday was 49120 yuan / ton, the lowest was 48750 yuan / ton, the settlement was 48950 yuan / ton, and the closing was 48830 yuan / ton, up 200 yuan, or 0.
41%.
Abroad, the United States and Mexico reached a new trade agreement, Canada joined the negotiations, market risk aversion continued to improve, the S&P and Nasdaq hit record highs, the dollar index fell below the 94.
5 line, and then returned to hovering
around 94.
7 on the back of consumer confidence at an 18-year high.
At 15:00 Beijing time, London copper quoted 6104 US dollars / ton, down 28 US dollars, down 0.
46%.
In the market, the price of domestic spot copper rose, and the price of Guangdong spot 1# copper was 49060 yuan / ton, up 490 yuan; Yangtze River spot 1# copper price reported 49140 yuan / ton, up 570 yuan, premium 150 - 170 liters; Shanghai spot 1# copper price was 49070 yuan / ton, up 470 yuan / ton
.
In the spot market, near the end of the month, the supply of goods in the market was tight, traders raised the premium, the market transaction was dominated by traders' trading, and the sentiment of receiving goods improved compared with the previous day
.
The cancellation of warehouse receipts at LME-registered warehouses jumped to a one-year high of 132,200 tonnes, accounting for nearly half
of the total warehouse receipts of 268,175 tonnes.
Traders said the delivered metal was shipped to China well above the LME price, a price difference sufficient to make a profit
after paying freight and taxes.
Shanghai spot copper quotation at 48990-49150 yuan / ton, up 475 yuan / ton, up 80 yuan / ton - 140 yuan / ton
.
The overall transaction of the intraday spot market is better, the market's receiving capacity maintains a good momentum, and the imported goods are relatively reduced, which supports the price of premium, and good copper remains around
130.
U.
S.
stocks new high, it is expected that the dollar will continue to remain weak in the short term, providing rebound space for base metals, macro atmosphere has signs of easing up, surrounding metal aluminum took the lead and zinc baton to open the pull, copper prices are expected to maintain a strong trend in the short term, Shanghai copper above the challenge of the ten-week average around 49200 yuan / ton, London copper hit the 6200 US dollars / ton mark
.
However, it is recommended that vigilance should be maintained in the medium and long term, and the essential problems remain unresolved
.
