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On Wednesday, the main force of Shanghai copper 1707 gap opened low at 45690 yuan, rushed up to 45850 yuan after began to bear pressure to continue to fall, the lowest fell to 45470 yuan, the price rebounded at the bottom, the copper market came under pressure again in the afternoon, and the price fell to 45170 yuan
at the end of the day.
It closed at 45,230 yuan, down 820 yuan, or -1.
78%, and index holdings increased by 2,156 lots to 581,000 lots
.
In terms of external trading, LME March copper, opened at $5660 in the morning, then slightly lowered to $5652.
5, and once rose sharply to $5694 after the Asian market opened, but fell back to near the lowest point under pressure, rebounded slightly in the afternoon, and the price continued to fall to $5642 in the afternoon, and the price closed at $5642.
5 in the Asian market, down $15.
5, or -0.
27%.
In terms of the market, the market trading in the mainstream trading session in the morning is general, the copper price fell sharply after the holiday, there is no obvious news guidance for the supply and demand sides, and the market shipment situation is better, but downstream users are more cautious and wait-and-see in the case of lower copper prices after the holiday, and the overall transaction is average
.
Prices fell again in the afternoon, making the overall market lighter
.
The current spot copper liter discount is reported at C130-C30 yuan / ton
.
Among them, good copper C40-C30 yuan / ton, flat water copper C70-C60 yuan / ton, wet copper C130-C120 yuan / ton
.
In terms of news, the current off-season effect is gradually strengthening, demand is basically in a weak stage, coupled with the continued tightness of funds at the end of the month, the overnight deposit rate once rose to 19.
5% intraday, while the market's interpretation of the new PMI data is not ideal, the commodity market suffered a sharp decline, and many varieties fell at
the end of the day.
From the futures plate, Shanghai copper before 46,000 yuan there is a downward gap short-term pressure is too large, at the same time here is also the descending flag descending trend line position, intraday gap low open sharp decline means the short-term rebound termination, the current KDJ high dead cross, copper market still has the possibility of falling, continue to pay attention to downstream procurement
.
