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Thursday's Shanghai copper main contract 2001 opened at 47390 yuan / ton in the morning, the opening gap, mainly due to the uncertainty of the Sino-US trade situation increased again, the market risk aversion heated up, resulting in the offshore yuan fell sharply against the US dollar by 78 points, Shanghai copper opening bulls immediately quickly reduced their positions and left the market, and then the center of gravity fluctuated between 47320-47370 yuan / ton until the end of midday; The center of gravity at the opening in the afternoon showed a stepwise downward, the lowest was down to around 47290 yuan / ton, and the end of the session rose slightly and closed at 47350 yuan / ton, up 80 yuan / ton, or 0.
17%.
In the external market, Apanlon copper opened low at 5935.
5 US dollars / ton, and it opened high
.
After the opening, the Asian copper price basically maintained a volatile market, and the overall center of gravity was narrowly sorted around 5925 US dollars / ton, and the Asian market amplitude did not exceed 16 US dollars / ton
.
Then entered the European market, disrupted by the trade situation, and due to the domestic "water release" again, the RMB exchange rate depreciated, the external performance fell sharply, quickly fell below the $5900 mark, and tested down at $5888 / ton
.
As of 17:30, London copper closed at $5896/ton, down 0.
89%.
At present, the center of gravity of London copper is testing the Bollinger middle orbit, waiting for guidance from the dollar and crude oil to test whether London copper can hold the lower position of $5880/ton
.
In terms of the market, Shanghai copper fluctuated
strongly above 47250 yuan / ton.
In the last two days at the end of the month, the market is basically biased towards the next month's ticket quotation, and the morning holder quoted a premium of 80 ~ 100 yuan / ton, but the market response of the strong premium and high market response was weak, and the holder was forced to lower the quotation, flat water copper concentrated transaction at 70 ~ 80 yuan / ton, good copper generally premium 90 yuan / ton, low-priced sources still attract some traders to buy; At the end of the month, the willingness to receive goods downstream was low, and the wet quotation was lowered to about
20 yuan / ton.
At the end of the month, the market is difficult to launch, the market is more wait-and-see, spot copper stocks are still low, spot premium is difficult to have room to fall, although traders have the willingness to receive goods, but the price is difficult to reach the willingness to enter the market, supply and demand are more likely to fall into a standoff, the characteristics of the end of the month are obvious
.
In the afternoon, as the market was still in a narrow range, and approaching the end of the weekend and the end of the month, the demand for bills in the market basically ended, but the holders still held the price
on the grounds that the trading supply was not abundant.
At present, Shanghai copper closed negative, KDJ indicator opening downward, technical point of view there is still resistance, pay attention to the impact of the uncertainty of Sino-US trade caused by Trump's signing of the Hong Kong-related "bill" on copper prices, while European economic data is about to be released, testing whether Shanghai copper can continue to hold 47300 yuan / ton
.
