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Tuesday's Shanghai copper main contract 1910 opened at 46620 yuan / ton in the morning, after the opening of the center of gravity remained stable around 46630 yuan / ton oscillation sorting, then the center of gravity moved down, the afternoon opening continued to lower to the lowest level of the day 46550 yuan / ton, and then continued to rise The center of gravity returned to the 46620 yuan / ton position, and then continued to fall, closing at 46560 yuan / ton, down 140 yuan / ton, down 0.
3%.
In terms of external trading, Apanlon copper opened at 5745.
5 US dollars / ton, after the opening around the daily moving average narrow range, the center of gravity began to be slightly lowered, due to the recent macro political pattern is more unstable, the market prefers safe-haven assets, the copper market continues to be dominated by bears, the European session tested down 5730 US dollars / ton, after the short-term low, boosted by crude oil supply, copper prices short-term rushed up to 5788.
5 US dollars / ton, but copper prices are difficult to maintain stability at a high level, and soon fell
downward.
In terms of the market, Shanghai copper traded sideways at 46500 yuan / ton
.
Spot continued the previous day's quotation premium 30 ~ premium 70 yuan / ton, flat water copper holders quotation is still more persistent, maintain a premium of 30 ~ premium 40 yuan / ton nearby, traders intend to receive goods at a low price, but it is difficult to have room for price reduction, good copper sources are concentrated in the transaction of 50 ~ 60 yuan / ton; Wet copper is quoted around the premium of 10 yuan / ton, and the downstream maintains rigid demand
.
Copper futures continue to fluctuate in the pattern, the market stops and waits, the supply is sufficient, but close to delivery, the holder's quotation is stable, the willingness to raise the price remains unchanged, and it is difficult to find a low-price source; There are differences between the supply and demand sides, and the transaction is in a deadlock
.
In the afternoon, due to the appearance of imported copper in the market, the sentiment of holders has weakened, good copper took the lead in opening the downward adjustment mode, and flat water copper has almost no price difference, in the afternoon flat water copper reported 30-liter 40 yuan / ton, good copper reported 40-liter 50 yuan / ton, the transaction price was in the range of 46470 yuan / ton - 46540 yuan / ton
.
During the day, Shanghai copper as a whole showed a volatile pattern, and the center of gravity was basically stable
.
The main reason is that the long and short sides are still showing a tangled attitude towards copper prices, and the trend of stalemate is obvious
.
However, the overall macro situation is still weak, the market risk aversion is strong, pushing up the trend of gold, and copper prices still have the risk
of falling.
