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Last Friday, the main Shanghai copper contract 1911 opened at 47100 yuan / ton in the morning, opened up at 47160 yuan / ton and quickly fell back to around 47100 yuan / ton, and then continued to rebound to 47180 yuan / ton around the shock finishing until the end of noon, the afternoon plate continued to oscillate down to 47100 yuan / ton, and closed at 47130 yuan / ton, an increase of 0%.
The daily session continued to fluctuate near the daily moving average, and the center of gravity remained stable around
47150 yuan / ton.
In the external market, Apanlon copper opened at 5790 US dollars / ton, and there were fewer transactions after the opening, and the price remained near
this position.
Affected by the tension in the Middle East, U.
S.
oil has rebounded, driving copper prices upward, copper prices began to rise at 9 o'clock, to 5804 US dollars / ton and then fell back to 5794 US
dollars in the short term.
Subsequently, the pound extended its overnight gains against the dollar to a new February high as the market expected a Brexit deal, and London copper continued to rise to $5816.
5/mt
.
Before the European market, the center of gravity of copper prices remained at 5813 US dollars / ton, and began consolidation
.
In terms of the market, Shanghai copper continued to fluctuate
around 47200 yuan / ton.
Holders quoted a premium of 220 ~ 250 yuan / ton in the morning, the market heard that the source of imported copper arrived, after the previous day's crazy rise in the market, the intraday holders showed a clear mood of selling goods at a high premium, in the case of lack of response from the high dump, flat water copper took the lead to reduce to a premium of about 200 yuan / ton, and the quotation of good copper was reduced to 230 yuan / ton
.
However, it could not withstand the accelerated reduction measures of some traders eager to exchange cash, and the flat water copper was reduced to a premium of around 180 yuan / ton, and good copper was dragged down to a premium of 210 yuan / ton, and the transaction still showed the market situation
of more goods and less goods.
Near the weekend, in order to avoid the continuous arrival of imported copper over the weekend, as well as the recent bill risk, the holders took the initiative to reduce the transaction in order to complete the transaction, ending the active control of the seller maintained for a period of time, and the market hedging sentiment was strong, and the purchase volume was significantly reduced
compared with the previous day.
In the afternoon, there was almost no transaction in the spot market, because the market was less willing to buy goods due to the weekend, and the recent bill risk further inhibited the market buying sentiment, but there were still some traders who sold and actively lowered the quotation shipment
.
