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Friday's Shanghai copper main contract 2003 opened at 49230 yuan / ton in the morning, rose to 49280 yuan / ton after the opening, and then stepped down, reaching the lowest point of the day of 49130 yuan / ton, and then with the fourth quarter of domestic GDP and other economic data release value compound expectations, boost market confidence, Shanghai copper low back up all the way up, until the afternoon open, continued the morning rally, continued to rush to 49320 yuan / ton intraday high, the end of the session fell slightly and closed at 49250 yuan / ton, down 20 yuan / ton , down 0.
04%.
In terms of external trading, the Asian market opened high at 6279 US dollars / ton in the morning, the morning copper price basically remained stable around 6283 US dollars / ton, the initial test was 6274 US dollars / ton, the overall amplitude did not exceed 25 US dollars / ton, until the end of the Asian session, copper prices showed an upward trend
.
Entering the European market, copper prices rose more strongly, due to the favorable trade sentiment and geopolitical stimulation of crude oil prices, copper prices strengthened, breaking through the $6300 mark to a high of $6324/ton
.
As of 17:40, London copper closed at $6309.
5/ton, up 0.
65%.
In terms of the market, Shanghai copper is still along the 49,000 yuan / ton of the first line of shock sorting, the "small year" market has seen the first signs of the festival, the market has not appeared a large number of dumping market conditions on the previous day, spot discount quotation has narrowed compared with yesterday, morning market quotation discount 150 ~ discount 100 yuan / ton, low price is still partially traded, the holder has no intention of large discount for cash and raise the quotation, flat water copper quotation to discount about 130 yuan / ton, good copper has been raised to discount within 100 yuan, some brands can be discounted 80 yuan / ton, wet copper source has been difficult to find, Sporadic can smell the sticker around
200 yuan / ton.
The Spring Festival is approaching, next week market participation will be greatly reduced, there are few downstream receivers, traders will gradually fade out of the market to leave, the willingness to exchange cash will be significantly reduced, the number of quotations is getting fewer and fewer, and the spot discount will also be significantly narrowed
.
In the afternoon, the spot market quotation was less, and a small number of holders were not in a hurry to sell goods for the time being when they had abundant funds, and the quotation continued to rise, and the market showed a light stalemate
.
In the afternoon, the flat water copper newspaper discount 100 - discount 70 yuan / ton, good copper newspaper discount 60 - discount 40 yuan / ton, the transaction price is in the range of 48980-49080 yuan / ton
.
A number of important domestic economic data were released during the day, including the fourth quarter GDP release value in line with expectations, and the December industrial added value data also showed a sharp increase, coupled with the central bank this week a total of 900 billion net investment, the overall domestic economic situation is good, boosting copper prices to stand at a high level
.
