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On Friday, the Shanghai copper 1905 contract opened at 49150 yuan / ton in the morning, followed by the rise in the external market after the opening, showing a shock upward rush, but the upward impulse energy is obviously insufficient, the center of gravity pulled down many times, after the upward test to 49280 yuan / ton, the disk gave up, and the center of gravity fell back to near
the daily moving average.
In the afternoon, the short entry, copper prices were quickly pulled down to around 49080 yuan / ton, after the shock sorted, the center of gravity at the end of the session was lowered again, testing down 49010 yuan / ton, closing at 49040 yuan / ton, down 350 yuan / ton, down 0.
71%.
South Reserve East China: The average price of electrolytic copper was 49,650 yuan, down 210, and the monthly discount quotation: -140 to -30, down 30
.
East China: The delivery day is next week, the morning holder tried to quote yesterday's price, but there were few receivers, the basis of the next month remained around 200 yuan, the market supply was sufficient, and then the seller sharply reduced the price to dump the goods, the discount expanded rapidly, the good copper premium fell faster, the downstream receipt was not positive, and the transaction was not as good as the previous day
.
At the close, premium copper was discounted by 30-50 yuan to the futures contract of the month, down 50 yuan from yesterday; flat water copper discount 140-160 yuan, down 25; Wet copper discount 240-260 yuan, down 40
.
South China Reserve: The average price of electrolytic copper was 49,650 yuan, down 220, and the monthly premium quotation: -130 to -30, down 35
.
Guangdong: After yesterday's take profit to clean up part of the inventory, the selling sentiment within the day eased, and the flat water copper reported -90 yuan / ton and -100 yuan / ton in the morning, basically unchanged from the previous day's level
.
However, the inversion of the spread widened in the next month, putting pressure on spot prices, while the downstream is still waiting and waiting for copper prices to fall, not eager to replenish stocks on dips, traders receiving goods continue to be sluggish, and the overall trading performance is weaker than the previous day
.
Subsequent shippers were forced to adjust the price of flat water copper to -130, -140 yuan / ton, and it was difficult to find a good copper source in the market, and a small amount of good copper was traded
at -80 yuan / ton.
The main performance of Shanghai copper in the day was 5 consecutive negative, the center of gravity completely lost the 20-day moving average support, moved down to the middle band of the Bollinger curve, the green energy column in the MACD indicator continued to stretch downward, from a technical point of view, the current upward pressure on copper prices has increased
.
Continue to test whether the main force of Shanghai copper can hold the position
of 49,000 yuan / ton.
