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On Monday, the main copper contract 1910 opened at 46590 yuan / ton in the morning, opened up to test the 46630 yuan / ton mark, and then fell to around 46570 yuan / ton, and then continued to rise until the end of midday, the afternoon continued to rise to 46700 yuan / ton, the center of gravity at the end of the session moved down slightly and closed at 46640 yuan / ton, down 100 yuan / ton, down 0.
21%.
Externally, Apanlon copper opened at $5657 / ton, and after the open, the center of gravity of copper prices slowly moved
upward due to the bright performance of China's release of the latest Caixin PMI data in the morning, coupled with the market gradually digesting the instability in global trade before.
Until entering the European market, copper prices short-term high to 5695 US dollars / ton, in the UK hard Brexit pressure and the UK manufacturing PMI in August Waterloo tragic, the market risk aversion soared, the dollar rushed above the 99 high, copper prices fell significantly, testing down 5646 US dollars / ton.
As of 17:20, London copper was trading at $5648 / ton, up 0.
08%.
In terms of the market, the pressure of Shanghai copper fell slightly to 46,500 yuan / ton
.
Entering the first trading day of September, the market is full of expectations for consumption in September, inventory is also a sharp decline, the market price atmosphere is strong, the morning market inquiry atmosphere is active, traders receive goods positively, the morning market quotation premium 70 ~ premium 110 yuan / ton, good copper premium more than 100 yuan transaction blocked, good copper adjusted to premium 90 ~ premium 100 yuan / ton, especially the premium 90 yuan / ton transaction is acceptable, flat water copper premium 70 yuan / ton transaction is active, the second trading session, It is difficult to find a flat water copper premium of 70 yuan, and the market generally raises the price of 80 yuan / ton
of premium.
There are limited people who have entered the downstream active market, and some imported wet copper has arrived, and the quotation is difficult to show last week's firmness, and the premium is gradually lowered at 10 ~ 30 yuan / ton
.
On the first trading day of September, under the guidance of traders, trading is positive, there will be Mid-Autumn Festival holiday and National Day long holiday in September, the market has certain expectations for consumption, and the characteristics of the price trend of holders are obvious
.
The overall performance of the intraday plate was a slight rebound at a low level, mainly because the current domestic manufacturing PMI data for August returned to above the boom and bust line, up 0.
5% from July, and the manufacturing boom improved slightly, supporting the bottom of Shanghai copper, and copper prices rebounded
slightly.
However, due to the weak trend of the global macroeconomy, coupled with the high US dollar, the recovery rate is still not high, and the overall is still hovering
at a low level.
At present, Shanghai copper closed negative, supported by the Bollinger mid-band below, the MACD indicator red column has been lengthened, and the technical picture is slightly favorable to Shanghai copper
.
Wait for external guidance to test whether Shanghai copper can continue to hold the 46,600 yuan / ton mark
.
