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On Monday, the main 1811 contract of Shanghai copper opened at 50850 yuan / ton in the morning, and Shanghai copper fluctuated in a narrow range along the daily moving average at the beginning of the session, during which the intraday high was 50930 yuan / ton, and the bulls reduced their positions at the high, and the center of gravity of copper prices slowly fell back and fell below the daily average
.
In the afternoon, after London copper led the loss of 6300 US dollars, Shanghai copper in the narrow range of 50710 yuan / ton after the bulls lack confidence, copper price center of gravity fell back, straight to the low of 50450 yuan / ton, closed at 50570 yuan / ton, up 80 yuan / ton, up 0.
16%.
In terms of external trading, London copper morning market gap opened at 6295 US dollars / ton, the dollar fell at the beginning of the session, London copper quickly rose to the intraday high of 6309 US dollars / ton, again broke through the 6300 US dollars / ton mark, after a short consolidation, high long positions, London copper quickly fell below the 6300 US dollars / ton mark and the daily moving average, and then along the daily moving average irregular oscillation, the amplitude did not exceed 15 US dollars / ton, during the period of many breakthroughs through the 6300 US dollars / ton mark after being blocked from falling
.
In the afternoon, it fell below the daily moving average and continued to oscillate
in a narrow range along the daily moving average.
In terms of the market, Shanghai copper rose slightly
.
Around the 50800 yuan / ton of the first line of strong shock, the last trading day of the 1810 contract, the market has mostly turned to the next month 1811 contract quotation, the next month price difference fluctuates frequently
between 0-20 yuan / ton.
The willingness of the market to receive goods is sluggish, but the willingness to ship at high is strong, helpless to reduce the quotation, the downstream receiving initiative is poor, although the entire market is active in inquiry, but the transaction is light, highlighting the stalemate on Monday and delivery day
.
After the National Day, the market arrival volume increased significantly, copper prices are in a continuous rebound, downstream high replenishment willingness is low, but the import window has been closed after the holiday, and the holders have not yet had financial pressure in the middle of the month, so the first day of supply and demand after the change of month may show a period of deadlock, waiting for the right to say which side
of supply and demand.
The outflow of the Shanghai Copper Index was 223 million yuan during the day, ranking first in the nonferrous sector outflow funds, mostly concentrated in the current month and the next month contracts
.
On the delivery day, the market trading was slightly delayed, and the inventory explicit inventory in the three places once again refreshed the historical low, coupled with everyone's strong expectations for consumption such as infrastructure in the fourth quarter, the main focus of Shanghai copper is still standing above the half-year line, waiting for external guidance, testing whether Shanghai copper can consolidate at the current high, and the short-term target is still pointed to 51,000 yuan / ton
.
