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On Tuesday, the main force of Shanghai copper opened at 51,700 yuan / ton in the morning, and after the opening, the bulls entered the market to pull up copper prices above the 52,000 mark, to the highest point of the day 52,250 yuan / ton, but the bears suppressed the rapid decline in the market, falling back about 400 yuan / ton after the center of gravity stabilized at 51,900 yuan / ton, at this time the price of copper fell again, closing at 51,640 yuan / ton
at midday.
In the afternoon, the opening copper price fell to the intraday low of 51360 yuan / ton, and near the end of the day, the center of gravity of Shanghai copper rose slightly to 51570 yuan / ton line, and finally closed at 51540 yuan / ton, down 150 yuan / ton, down 0.
29%.
In terms of external trading, London copper opened high at 6466 US dollars / ton, Shanghai copper after the opening of long positions to drive London copper to rise rapidly, climbing intraday high of 6520.
5 US dollars / ton, but the upward momentum is limited, above 6500 US dollars to give up the rise obviously, in the 6485 US dollars / ton around the shock sorting
.
Subsequently, affected by the sharp decline in gold and silver prices, London copper fell below the daily moving average, oscillating down to 6418.
5 US dollars / ton, giving up all the gains of the day
.
After finding support at the bottom, copper prices rebounded upward, the center of gravity stabilized at the 6430 US dollars / ton line, as of 17:00, London copper closed at 6426.
5 US dollars / ton, down 3.
5 US dollars / ton, down 0.
05%.
In terms of the market, Shanghai copper opened high and low, under pressure of 52,000 yuan / ton, the first line fell back to below
51,700 yuan / ton.
The market stopped and watched, the holder continued the previous day's quotation, the price trend remained unchanged, the morning market good copper quotation premium 80 ~ 100 yuan / ton, flat water copper monthly ticket premium 50 ~ 60 yuan / ton nearby, flat water copper next month ticket premium 30-40 yuan / ton, the transaction is still in a deadlock pattern, traders favor the premium 30 yuan / ton, the transaction is slightly improved, the source of good copper is still tight, maintained in the premium 80 ~ 100 yuan / ton range, wet copper maintains the previous day's quotation discount 60 ~ discount 20 yuan / ton, the transaction is general, There are large differences between brands, and the combination of bill factors has led to serious differentiation of wet copper prices
.
The demand for monthly tickets within the day has obviously not become a trend, the market has mostly quoted for the next month's tickets, the market price is limited, traders are cautious in receiving goods, and the transaction is
deadlocked.
In the afternoon, the center of gravity of the plate fell sharply to around 51500 yuan / ton, and the spot quotation was stable at 40-50 yuan / ton of flat water copper premium, 90-100 yuan / ton of good copper, and the transaction price fell to 51540-51740 yuan / ton
.
Against the backdrop of international tensions, a severe new crown epidemic and market expectations that the Federal Reserve will maintain a long period of easing, the dollar is under full pressure, gold, silver and other precious metals soared to record highs, copper prices were also boosted, opening higher in the morning and breaking above the 52,000 mark
.
During the day, gold and silver showed a deep correction, and copper prices fell under pressure
.
Fundamentally, although the strike at Chile's Centinela copper mine in Antofagasta, Chile, was avoided, the tight supply pattern at the mine end did not change the market, and copper prices still supported
.
