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On Wednesday, the main 1808 contract of Shanghai copper opened at 53190 yuan / ton in the morning, long and short entry at the beginning of the session, copper prices fluctuated rapidly and slowly fell back, tested down 52920 yuan / ton after the decline closed, along the 52990 yuan / ton line of oscillation operation, afternoon amplitude expanded, during the low of the sun-probe 52890 yuan / ton
.
In the afternoon session, Shanghai copper continued to climb upward, touching 53390 yuan / ton before the rally closed
.
At the end of the day, some bulls left the market, and copper prices fell slightly, closing at 53320 yuan / ton, up 1070 yuan / ton, or 2.
05%.
In terms of external trading, London copper opened at 7122 US dollars / ton, and the early session operated
along the 7125 US dollars / ton line.
After the Asian market opened, it followed the trend of Shanghai copper, testing lower $7,093 / ton
.
Subsequently, the oscillation ran in the range of 7095~7110 yuan / ton
.
In the afternoon, it fell at $7092/ton, boosted by the fall in the dollar, and London copper quickly climbed upwards until it gave up some of its gains after $7158/ton, and then the rally continued
.
As of 16:25, the intraday high was $7160.
5/ton
.
In terms of the market, overnight copper rose sharply, non-ferrous metals across the board red, copper increase in the period rose by more than 700 yuan / ton, although the price difference in the next month expanded to about 200 yuan / ton, but the holder has ignored, the willingness to ship for cash is high, the morning market is reported good copper flat water or so, flat water copper discount 50 ~ 40 yuan / ton, with the entry of traders into the market to reduce prices, soon the market is fully discounted and all the way expanded, good copper in the morning more in the discount of about 20 yuan / ton concentrated transaction, flat water copper can be pressed to discount 60 yuan / ton, At the end of the day, the price can even be pressed to a discount of 70 yuan / ton
.
Copper prices ushered in a sharp rise, standing at 52,000 yuan / ton, but the market reversed the characteristics
of strong and weak.
The downstream is seriously afraid of heights, and the intraday purchases are mostly low-priced sources for traders, and the preference is that good copper is still used for long-term delivery
.
In the afternoon, the market climbed again, still did not see downstream participation, traders kept bargain hunting, but it was difficult to find low-priced sources in the afternoon
.
In terms of stocks, COMEX copper stocks 231058 short tons as of June 5, down 797 tons from the previous day; LME copper stocks were 309,300 tonnes, down 6,050 tonnes from the previous day; As of June 6, SSE futures inventories were 128879 tons, down 4,840 tons
from the previous day.
Shanghai copper rose sharply during the day, and has now closed 5 days of continuous sunshine
.
Market concerns about Chilean labor negotiations continued to ferment, copper concerns continued to rise, the Shanghai copper index increased by a total of 28,000 lots, trading volume of 610,000 lots, and capital inflow ranked first, reaching 723 million yuan
.
On the other hand, copper prices have reached a three-month high, and it is expected to stabilize in the evening, testing the first-line support capacity of 53,000 yuan / ton, and paying attention to the guidance
of warehouse changes.
