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On Monday morning, the Shanghai copper main 1906 contract opened at 49510 yuan / ton, after the opening of the short-term pressure daily moving average, then followed by the outside market, the bears continued to close their positions, the center of gravity rose slightly to the daily average of 49580 yuan / ton, hovering until the afternoon, the center of gravity fell, the end of the session maintained a stable line of 49450 yuan / ton, closed at 49400 yuan / ton, up 190 yuan / ton, up 0.
39%.
In terms of external trading, Asian market, London copper opened at 6494 US dollars / ton, after opening around the daily moving average narrow range oscillation, slowly test higher, in the high of 6511 US dollars / ton position short-term test, the center of gravity fell to the daily average, until the afternoon, bears entered the market, copper prices slowly oscillated downward, during the period of trying to maintain the daily average unsuccessful
.
Entering the European market, the downward speed of copper prices accelerated, and after the initial test of 6472.
5 US dollars / ton, the performance rebounded, and as of 17:00, London copper reported 6490 US dollars / ton
.
In the market, China's March social finance data exceeded expectations, market confidence was boosted, base metals generally rose, copper futures contract rose above
49,300 yuan / ton.
The last trading day of the 1904 contract, but the market has shifted to the next month 1905 contract quotation, the next month price difference fluctuates frequently between 140-160 yuan / ton, copper prices still maintain the current month quotation until the change of month
.
The market quoted the 1904 contract, good copper premium 180 ~ 200 yuan / ton, flat water copper quotation is around 70 ~ 100 yuan / ton, wet copper sticker 20 yuan ~ premium 20 yuan / ton
.
In the face of the rising plate, the premium rises together, the downstream is cautious in taking goods, still waiting and seeing, traders are also slightly cautious, low activity, supply and demand sides continue to see
.
Although the entire market was active in inquiry during the day, the trading was light, and the delivery day was high for the
month's quotation.
Intraday market quotations revolve around the 1905 contract, and holders may gradually narrow and increase the quotations
of discounted sources after the change of month.
In the afternoon, the market has completely quoted the 1905 contract, guided by the basic stability of the market spread at about 80 yuan / ton, and the market price in the afternoon is favored by traders
.
In the afternoon, flat water copper newspaper discount 60-40 yuan / ton, good copper report premium 50-liter 60 yuan / ton, the transaction price in the range of 49300 yuan / ton - 49480 yuan / ton
.
