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Tuesday's Shanghai copper main contract 1909 opened at 47330 yuan / ton in the morning, and immediately after the opening it fell to the lowest level of 47260 yuan / ton, the center of gravity basically remained around 47320 yuan / ton, and then the center of gravity moved slightly up 30 yuan to 47350 yuan / ton until the afternoon; In the afternoon, the center of gravity first maintained stability, and then continued to rise to the highest point of the day of 47420 yuan / ton, and then continued to decline, closing at 47300 yuan / ton, down 500 yuan / ton, down 1.
05%.
Externally, Apanlon copper opened low at $6009 / ton, copper prices rebounded slightly after the opening, and the morning high stopped at $6033 / ton, because today's dollar continued to maintain a recovery trend, copper prices were under pressure, and there was little amplitude in the morning, maintaining stability near the daily moving average, until entering the European market, at the beginning of the session after a slight test of 6036 US dollars / ton, copper prices once again showed weakness, As the conflict on the dollar broke below 97.
5, bulls were afraid to close their positions, the metal performance fell, and copper prices fell sharply, falling below the 6000 mark to a low of 5982.
5 US dollars / ton
.
As of 17:20, London copper was at $5,987 / ton, down 0.
51%.
In terms of the market, copper continued its downward trend, and Shanghai copper fell around
47200 yuan / ton.
Copper prices under pressure down, in the morning holders quoted a premium of 10 ~ 50 yuan / ton, some traders showed willingness to receive goods, market inquiries increased, price pressure atmosphere is strong, in addition to a small amount of price can be pressed to discount 10 yuan / ton transaction, flat water copper generally rose near flat water, good copper concentrated transaction in premium 30 ~ 40 yuan / ton, wet copper supply increased, downstream consumption was weak, holders took the initiative to reduce the discount of 80 ~ discount 70 yuan / ton
.
After the fall in copper futures, quotations were slightly higher than yesterday, traders had a moderate amount of bargain buying, but copper prices did not stabilize, and the market was still cautious
.
There is no change in the afternoon market price, because the market inquiry in the morning is more positive, the afternoon holders are reluctant to lower the price of shipments, and the willingness to raise the price is stronger
.
At present, the macro market has been waiting for the Fed's policy meeting next week, the expectation of a sharp interest rate cut weakened, the dollar trend is strong, along the way to the 97.
5 mark, copper prices under pressure and weak upward thrust, the overall maintenance at 47300 yuan / ton, Shanghai copper closed slightly negative, the upper Bollinger band support has been lost, KDJ indicators are bearish downward, technical lack of guidance
on copper prices.
Wait for the guidance of the external market to test whether Shanghai copper can hold the 47200 yuan / ton mark
.
