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Last Friday (June 29), the main 1808 contract of Shanghai copper opened at 51400 yuan / ton, after the opening copper price rose slightly to 51550 yuan / ton, after a short consolidation, bears entered the market to suppress, copper prices quickly fell back to the low level of 51390 yuan / ton, then the dollar index plunged sharply, copper prices were boosted and opened the upward mode, all the way to 51770 yuan / ton, the end of the copper price fell slightly, maintained a narrow consolidation, and finally closed at 51660 yuan / ton, down 110 yuan / ton
.
In the external market, Asia Lun copper stopped falling and rebounded, trading in the range of 6693-6609 US dollars / ton, of which as of 16:09 Beijing time, the 3-month London copper was reported at 6655.
5 US dollars / ton, up 0.
49%
per day.
In terms of positions, as of June 27, the position of London copper was 318,000, a daily decrease of 687 lots, a fourth consecutive day of decline, and copper prices fell to show that long and short positions were reduced
.
On the macro front, the Asian dollar index plummeted and is now trading around 94.
98, down 0.
29%
on the day.
During the EU summit, an agreement was reached on migration to avoid a crisis, the euro rose, and the dollar plunged
.
In terms of copper market industry information, Japan's refined copper exports after customs clearance in May were 56,692,694 kg, an increase of 31.
4%
over the same period last year.
The export volume of refined copper is the total amount
of cathode copper, copper billet and other products.
In terms of the market, Shanghai copper is under pressure, and the center of gravity of operation has shifted
down again.
On the last trading day of June, most of the enterprises have entered the settlement and reconciliation state, the willingness of the holders to ship weakened, the quotation was firm, the morning market holders quoted a discount of 180 ~ 140 yuan / ton, some traders with financial ability intend to inquire, receive goods at a low price, favor low-priced sources, good copper concentrated transaction in the discount of about 160 yuan / ton, flat water copper discount 190 yuan / ton, wet copper source less quotation narrowed to about 250 yuan discount
.
Based on expectations of narrowing spreads and improving deals next week, trading was concentrated among some traders, and on the last day of the month, the market sentiment was slightly better than originally expected
.
In the afternoon session, it is difficult to see low-priced goods in the market, the quotations of cargo holders are firm, and the market trading atmosphere is extremely light, waiting for the operation of entering the market next week
.
During the day, the Shanghai copper 1808 contract opened low and moved as high as 51660 yuan / ton, during which it was partially supported by the EU's agreement on employment, the euro rose, and the dollar index dipped to support
.
It is recommended that the Shanghai copper 1808 contract can sell high and low between 51300-51900 yuan / ton, and stop falling 300 yuan / ton
each.
