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On Thursday, the main force of Shanghai copper opened at 42730 yuan / ton in the morning, and after the opening, the market rose slightly to 42820 yuan / ton, and then the bears entered the market one after another to superimpose long positions to reduce positions, and copper prices fluctuated down to the lowest point of the day at 42670 yuan / ton
.
At this time, the short-term bargain exit drove copper prices to rebound, recovering all the losses in the day, and once again tested 42820 yuan / ton
.
Before the midday close, copper prices fell slightly to close at 42,760 yuan / ton
.
At the beginning of the afternoon, continuous short positions reduction operations pushed copper prices
higher.
Near the end of the day, copper prices quickly rose above the 43,000 yuan / ton mark, and finally closed at 43,110 yuan / ton, up 550 yuan / ton, or 1.
29%.
In the external market, Apanlon copper opened low at 5188 US dollars / ton, and after the opening, the bears continued to reduce their positions to push copper prices quickly back to the $5200 mark, rising to 5210 US dollars / ton and then falling slightly, but the short flat and long entry once again pushed copper prices up, hindered by the $5230 / ton line
.
In the afternoon, London copper rally again, and the upward momentum is stronger, the center of gravity gradually moved up, the end of the Asian market has rushed to 5250 US dollars / ton, still not stopped the pace of rise, into the European session, London copper accelerated to rise, rushed to 5273 US dollars / ton, the center of gravity at 5270 US dollars / ton strong shock
.
As of 17:45, London copper closed at $5263/ton, up $44.
5, or 0.
85%.
In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 130 yuan / ton ~ 160 yuan / ton, flat water copper trading price of 42990 yuan / ton ~ 43020 yuan / ton, and premium copper trading price of 43000 yuan / ton ~ 43040 yuan / ton
.
Copper prices rebounded again at 42,900 yuan / ton mark.
The morning market continued to continue the previous day's quotation in the premium 130 ~ 160 yuan / ton, the low-price source of goods is still favored by traders, flat water copper concentrated transaction in the premium 130 ~ premium 140 yuan / ton, good copper premium 160 yuan / ton transaction is still deadlocked, after good copper premium 150 yuan / ton has room for price pressure, buying initiative is inferior to flat water copper, market supply and demand are deadlocked
.
Copper rises, downstream continues to maintain rigid demand, traders continue to receive flat water copper at low prices, some imported copper arrival holders are actively cashing at a high level, but the price reduction is limited, supply and demand is still in
a stalemate tug-of-war.
In the afternoon, the plate rushed above 43,000 yuan / ton, and the number of holders who actively exchanged cash increased, the quotation remained stable at flat water copper premium 130-140 yuan / ton, good copper premium 140-150 yuan / ton, the high price of the morning transaction has become the lowest price in the afternoon, and the afternoon price is 43030-43150 yuan / ton
.
From a fundamental point of view, copper supply is still tight, and in the afternoon, China's General Administration of Customs released unwrought copper and copper and copper ore and its concentrate import data in April, all indicating that China's copper demand is continuing to pick up, and supply and demand support copper prices from the fundamentals
.
The overall macro atmosphere is also optimistic, providing some momentum for copper prices
.
Shanghai copper closed positive during the day, has broken through the 60 moving average upward, and the KDJ opening continues to expand, the technical picture is positive for copper prices
.
Wait for the guidance of the external market to test whether Shanghai copper can stand firm at the 43,000 yuan / ton mark
.
