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On Friday, the main 1902 contract of Shanghai copper opened at 49510 yuan / ton in the morning, from the beginning of the session to the first trading session, copper prices basically fluctuated irregularly below the daily average of 49488 yuan / ton, the amplitude did not exceed 55 yuan / ton, during the period of testing the intraday low of 49440 yuan / ton to be strongly supported, Shanghai copper was boosted by the strengthening of London copper, more into the short flat, copper prices pierced the daily moving average all the way up to touch the high of 49660 yuan / ton was blocked to fall
。 In the afternoon, London copper fell, Shanghai copper affected from 49610 yuan / ton all the way down to 49480 yuan / ton, basically giving up all the gains in the day, Shanghai copper by London copper strengthened V-shaped rebound, again tested the intraday high of 49660 yuan / ton blocked, the end fell slightly, closed at 49650 yuan / ton, up 210 yuan / ton, up 0.
42%.
In terms of external trading, during the Asian session, London copper opened at 6205 US dollars / ton, after the opening around the daily moving average narrow range, because the US index fell to 96.
69, copper prices fluctuated upward, until noon, narrow range of shock finishing in the range of 6224-6230 US dollars / ton, and then the shock fell, tested down 6210.
5 US dollars / ton and then rebounded upward again, during the European session, the US index rose sharply, copper prices were under pressure, from 6232 US dollars / ton shock fell, down the daily average after rebounding to a high of 6236 US dollars / ton, After a short-term high did not stop the decline, copper prices plummeted down to $6173 / ton, and as of 16:30, London copper reported $6183 / ton
.
In terms of the market, Shanghai copper stabilized around 49,600 yuan / ton, morning market holders continued the previous day's quotation premium 100 ~ 150 yuan / ton, flat water copper premium 100 yuan / ton, good copper premium 140 yuan / ton ushered in a wave of positive trading, low-priced sources still attract some traders to buy, early trading is acceptable
.
So the cargo holders continued to follow the trend to raise the quotation, flat water copper quotation to 110 ~ 120 yuan / ton, and even heard that the quotation premium 130 yuan / ton, good copper quotation premium 160 ~ 170 yuan / ton, but the high premium made the market transaction suppressed
.
Wet copper slightly rose at a discount of 60 ~ 30 yuan / ton, downstream willingness to receive goods is sluggish, and actual consumption is weak
.
Imported copper continued to lose sharply, and exchange inventories will continue to decline this week, which has made holders look forward
to the upside after entering December.
Although the rebound of the market has brought about a wait-and-see stop downstream, and the firm high-premium pattern of cargo holders has brought supply and demand into a stalemate and tug-of-war, the short-term high-premium pattern is difficult to change
for the time being.
Shanghai copper 1901 contract intraday slight rebound, the end of the market closed at 49720, London copper 6000 US dollars support, short-term continue to see the shock rebound, inventory continues to decrease, for the spot, it is recommended to fall sharply to buy spot or the wisest, no position can take more orders, there are many orders continue to hold
.
The intraday pullback continues to be long, and next week continues to look at the rebound
.
