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On Tuesday, the main contract of Shanghai copper 2004 jumped high at 45850 yuan / ton, after the opening of the shock weakened, the center of gravity has stabilized around 45700 yuan / ton and 45640 yuan / ton, copper prices continued to fall back to around 45500 yuan / ton in the afternoon, and recovered slightly at the end of the session and closed at 45620 yuan / ton, up 610 yuan / ton, up 1.
36%.
In the external market, the Asian market opened high at $5742 / ton in the morning, and the dollar index fell in the morning due to investors' recent bets that the Federal Reserve will cut interest rates in response to the impact of public health events, and the market expects that global central banks are expected to coordinate to stabilize the market, promoting crude oil, U.
S.
stocks and other risk assets to rise at a low level, which has a significant boost to copper prices
.
London copper opened short-term high of $5780.
5 / ton, and then slowly fell to repair the morning gap
.
Until entering the European market, the price bottomed out at 5709.
5 US dollars / ton
at the beginning of the session.
As of 17:30, the price of London copper was 5718.
5 US dollars / ton, down 5 US dollars / ton, or 0.
08%.
In the market, Shanghai copper continued to rebound to 45,500 yuan / ton, an increase of more than 500 yuan / ton
from the previous day.
The market rose, the market continued the previous day's quotation, flat water copper is unwilling to reduce shipments, the price is in the discount 120 ~ discount 110 yuan / ton range, if the market has a low-price source is still favored by traders, good copper quotations tend to maintain stability, concentrated on the discount of 100 yuan / ton, downstream to maintain rigid demand, but the willingness to consume weaker than the previous day, wet copper slightly lowered to a discount of 200 yuan / ton quotation
。 The market has the willingness to receive goods at a low price, but the willingness of the holders to hold the price is clear, and the market continues to recover some of the losses last week, but the rebound is highly temporarily suppressed, making some downstream buying sentiment cautious, the market initiative transaction enthusiasm weakened, the transaction heat is obviously not as good as the previous day, and the supply and demand sides are deadlocked
.
Shanghai copper main force is running below the daily moving average during the day, although the morning gap opened high but the overall upward momentum is insufficient, mainly because the capital market from the previous day briefly ended the catharsis of panic, intraday copper prices continued the previous day's high opening trend, but Shanghai copper continued to rush up obviously weak, the current copper price high dismissal panic catharsis came to an end, mainly the domestic epidemic was controlled, the resumption of work and production rate of enterprises within the week increased significantly, which boosted the copper market; However, because the epidemic situation abroad has not improved substantially, important Iranian officials have been infected one after another, and the number of cases in South Korea is also increasing, and the risk is still in essence, limiting the price of copper to rise
.
It is expected that before the good news of the foreign epidemic, the upward trend of non-ferrous metals will be difficult to continue
.
