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On Friday, the main 1903 contract of Shanghai copper opened in the morning at the low of 46570 yuan / ton, the copper price at the beginning of the session in the narrow range of 46510 ~ 46600 yuan / ton, the amplitude does not exceed 90 yuan / ton, during the period of touching the low 46510 yuan / ton, more into the air flat, the center of gravity of copper prices rose slightly, and in the range of 46590 ~ 46700 yuan / ton narrow consolidation, the amplitude does not exceed 50 yuan / ton, before the afternoon of the Asian market, London copper strengthened, a large number of short profits of Shanghai copper left the market, copper price center of gravity from 46700 yuan / ton / Ton pierced the daily moving average slightly oscillating upward to 46950 yuan / ton
.
In terms of external trading, during the Asian session, London copper opened low at 5773 US dollars / ton, after the opening of the bulls with positions into the market, copper prices all the way up, until the beginning of the European market, after testing 5867 US dollars / ton after the center of gravity maintained stability around 5850 US dollars / ton, in the evening, the People's Bank of China announced a RRR cut, releasing about 1.
5 trillion yuan
.
Copper prices peaked at $5,882 / ton in the short term, and as of 17:30, London copper was at $5,868.
5 / ton
.
In terms of the market, the Shanghai copper price fell to a new low in 19 months, the copper price consolidated at 46700 yuan / ton during the day, the market inquiry atmosphere is active, due to the low copper price on the plate, the sentiment of the holder price is still high, the opening quotation premium 90 ~ 200 yuan / ton, due to the rise is too high difficult to have the actual transaction, traders reduce the price, the holder quotation to reduce the copper concentrated transaction in the premium 170 ~ 180 yuan / ton, flat water copper reduction premium 70 ~ 80 yuan / ton, the transaction is up, the second section of the exchange stage, The supply of flat water copper is more, the quotation continues to decline, adjusted to 60 ~ 70 yuan / ton of premium, the quotation of good copper remains firm, the source of wet copper is transferred to the water across the board, and the market is concentrated in flat water ~ 20 yuan / ton
.
Copper prices have broken the level and fallen sharply, although some downstream market entry bargain replenishment, copper prices have not stopped, the market fear of decline is strong, traders speculation is cautious, market transactions stop and see
.
In the afternoon, the market rebounded, the transaction became weak, the quotation of the holders remained stable, and the premium did not change much
.
Intraday copper price center of gravity basically all the way up, after the central bank to reduce the RRR, London copper recovery trend is more obvious, it is expected that the opening of Shanghai copper will reflect the central bank RRR reduction news to reflect the boost of confidence, Shanghai copper is expected to hold the 47,000 yuan / ton line, with the rise of copper
.
