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On Tuesday, the main contract of Shanghai copper opened at 47480 yuan / ton in the morning, opening at a high level of the day, and then copper prices stepped down, the center of gravity stabilized at 47420 yuan / ton in the second trading session, and fell to around 47390 yuan / ton near the end of midday, and the center of gravity continued to move down slightly to 47360 yuan / ton in the afternoon, and closed at 47340 yuan / ton, down 140 yuan / ton, or 0.
29%.
In terms of external trading, Apanlon copper opened high at 5916 US dollars / ton, after the opening due to the guidance of macro weakness, the center of gravity of copper prices fluctuated downward, and the Asian market tested 5892.
5 US dollars / ton
lower at the end of the session.
Then entered the European market, affected by the improvement of Sino-US trade sentiment at the beginning of the session, recovered the morning decline, broke through the 5920 mark in the short term, but soon the performance fell, stuck to the 5900 mark, and then announced that LME copper stocks decreased by 4900 tons, macro plus stocks are good for copper prices, copper prices rushed to a high of 5941.
5 US dollars / ton
in the short term.
As of 17:30, London copper closed at $5924.
5/ton, up 0.
147%.
In terms of the market, Shanghai copper high open low in the morning market blocked 47400 yuan / ton line, morning holder quotation held at flat water ~ premium 30 yuan / ton, but when the copper price is high plus all VAT tickets are stopped, it is difficult for the downstream to have the willingness to enter the market to receive goods, and traders' willingness to receive goods is in the case of a large discount level, lack of trading, the overall quotation has loosened down, good copper adjustment to 10 ~ liter 20 yuan / ton nearby, flat water copper discount 10 yuan / ton, the transaction has improved slightly, wet copper source is stable at 40 ~ discount Discount 30 yuan / ton range
.
Traders intend to receive goods at more discounts, while holders have not increased the price reduction and are eager to exchange cash, good copper and flat water copper have little price difference, buyers and sellers are deadlocked and tug-of-war is obvious, and the spot trade trading atmosphere is difficult to improve
for the time being.
In the afternoon, the price fell slightly, the market low price buying sentiment slightly improved, soon the holders raised the quotation, the market once again stalemated
.
The intraday market trend is more tired, the center of gravity of Shanghai copper has shifted downward, mainly because investors are still worried about the weak macroeconomic demand, crude oil also continued to fall, and has broken below the 55 mark, coupled with the weakness of recent economic data from many countries, it is more verified that the macro has not improved to continue, copper prices are difficult
to rise.
