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On Friday, the main force of Shanghai copper opened at 51750 yuan / ton in the morning, and after the opening, the price of copper rose slightly, exploring the intraday high of 51950 yuan / ton, but the upward momentum was limited, the plate fell to 51700 yuan / ton, and around the position for sideways until the noon close
.
At the beginning of the afternoon, copper prices briefly rose to 51870 yuan / ton and fell again, crossing the daily moving average to test the intraday low of 51620 yuan / ton
.
The tail end of the short head separated the field, causing the plate to temporarily get out of the low, and finally closed at 51820 yuan / ton, down 10 yuan / ton, down 0.
02%.
In terms of external disk, Apanlon copper opened at 6473 US dollars / ton
.
After the opening of Shanghai copper, London copper oscillated upward to climb the intraday high of 6500 US dollars / ton
.
The $6500 mark is still sniped by bears' highs, and the center of gravity of London copper moves below the daily moving average, and then the market moves sideways to the $6487/ton level
.
In the afternoon session, the short position increased to suppress the downward trend of copper prices, and London copper fell to 6455.
5 US dollars / ton, at this time, leading the short flat and long, London copper rose about 30 US dollars / ton
.
After briefly oscillating around the daily moving average, it fell slightly again to the $6466/mt line
.
As of 17:00, London copper closed at $6466.
5/ton, up $11/ton, or 0.
17%.
In terms of the market, Shanghai copper continued to fluctuate around the 51,800 yuan / ton line
.
Morning market quotation flat water copper in the premium 20 ~ 30 yuan / ton, good copper quotation in the premium 90 yuan / ton, market transaction more wait-and-see, the end of the month stalemate characteristics are obvious, low activity, demand decline, under the pressure of traders, flat water copper traded in the premium 10 ~ 20 yuan / ton, good copper can be as low as 70 yuan / ton, wet copper followed down, as low as 80 yuan / ton
.
At the end of the month, enterprises involved in settlement and invoicing, traders and downstream are lacking in buying interest, and the transaction may improve
after next week's cross-month.
In the afternoon, the market has mostly had few substantive transactions, but the holders have been unwilling to further reduce the premium quotation, flat water copper quotation premium 20-30 yuan / ton, good copper continued premium 80-90 yuan / ton, the transaction price fell to 51620-51740 yuan / ton
.
The coronavirus pandemic has hit the economy harder than expected, and last night the United States reported a sharp contraction of 32.
9% in the second quarter, the largest decline since the 40s
.
The uncertainty of economic recovery prospects, coupled with the continuous spread of the global epidemic, has aggravated investors' pessimistic expectations, and macro sentiment has been cold to pressure copper prices, but China's manufacturing industry has recovered steadily, and economic recovery growth has formed a good trend
.
In the morning, the National Bureau of Statistics announced that China's manufacturing PMI in July was 51.
1%, above the 50-rise line for five consecutive months
.
The manufacturing PMI index continued to rise, indicating that the domestic economic boom continued to recover, boosting copper prices
.
Shanghai copper closed positive during the day, KDJ opening converged, waiting for external guidance, testing whether bulls can exert force again, supporting copper prices to continue to rush.
