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On Tuesday, the main Shanghai copper contract 1908 opened at 46550 yuan / ton in the morning, and the trend was stable after the opening, and the center of gravity remained around 46640 yuan / ton until it was close to the morning close, and the market rose slightly to 46690 yuan / ton; After the midday open, the market fell slightly to 46600 yuan / ton, and then the market rose slightly to the highest level of the day of 46750 yuan / ton, and then fell back at a high level, closing at 46610 yuan / ton, down 650 yuan / ton, down 1.
38%.
In terms of external trading, Apanlon copper opened at 5940 US dollars / ton, after the opening copper price around the daily moving average narrow range, the morning shock center of gravity remained stable at 5950 US dollars / ton position, the amplitude of about 20 US dollars / ton
.
Until entering the European market, at the beginning of the session because the dollar has fallen, copper prices short-term high 5964.
5 US dollars / ton, but then due to the recent digestion of G20 macro sentiment, bears took the opportunity to increase positions at a high level, copper prices all the way down, as of 16:30, London copper was reported at 5918 US dollars / ton, down 0.
3%.
In the market, the US dollar rose strongly, and domestic metals generally fell
.
Shanghai copper fell 700 yuan / ton to 46600 yuan / ton
.
The price of the holder is firm, the market inquiry is active, continuing the previous day's high price premium 40~100 yuan / ton, flat water copper concentrated transaction at 40~50 yuan / ton, good copper price at premium 80~100 yuan / ton, downstream transaction slightly improved
compared with the previous day.
The market supply has not been loosened, especially good copper is still tight, coupled with some downstream bargain buying, it is difficult to have room for price reduction, it is difficult to receive low-priced supplies, the market inquiry atmosphere is active, there is a willingness to buy, the performance of cargo holders is more persistent, and there is still room for further pushing
.
In the afternoon, the market quotation was firmer, and the supply of goods in the hands of the holders was not abundant, and the market maintained a positive atmosphere
of inquiry.
The overall performance of Shanghai copper during the day was a long position reduction, reflecting that the sentiment of easing Sino-US trade relations at the G20 summit was gradually digested by the market, coupled with the recent euro area economic data less than expected, the global economic situation is still weakening, and there is a lack of support for copper prices at the macro level; Shanghai copper closed the solid long black bar, below fell below the Bollinger mid-band, the KDJ indicator opening expanded downward, MACD red bar continued to shorten.
Wait for the guidance of the external market to test whether Shanghai copper can stand firm at the 46,600 yuan / ton mark
.
