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Trade Service
On Thursday, the main force of Shanghai copper fluctuated
at the high of 1707.
Copper prices edged higher to 45,950 yuan in early trading, then slightly under pressure to 45,850 yuan, rebounded again before the noon close, and intensified volatility in the afternoon, and the price rose to 46,070 yuan before falling back to the average price line around
45,920 yuan.
It closed at 45,970 yuan, up 110 yuan, or 0.
24%, and index holdings decreased by 402 lots to 569,000 lots
.
In terms of external trading, LME copper opened low and high in March, opening at $5685.
5 in the morning, slightly lower to $5680, after the price shock rebounded to $5699, and then continued the volatile trend, the price rose to $5717 in the afternoon, and then fell under pressure, and the domestic trading session closed at $5710, up $7, or 0.
21%.
In terms of the market, the market trading in the mainstream trading session in the morning is general, the holders actively quote, but the shipment is difficult, and unwilling to reduce the price too much, the copper discount has not changed much from the previous day, the downstream is still mainly purchased on demand during the day, the supply and demand are deadlocked, and the overall transaction is general
.
At present, the spot copper liter discount is reported at C130-C40 yuan / ton
.
Among them, good copper C50-C40 yuan / ton, flat water copper C80-C70 yuan / ton, wet copper C130-C120 yuan / ton
.
In terms of news, the recent weakening of the US dollar has led to a strong operation of non-ferrous metals, Shanghai copper rose slightly in early trading, and the overall price basically remained in a narrow range below the 46,000 yuan line, but in the holiday effect and the accelerated bottoming atmosphere of iron ore, the confidence of funds to do more is weak, and the news is not obvious to match the copper price to continue the rebound, the copper market will still fluctuate
at this price.
From the futures plate point of view, Shanghai copper before 46,000 yuan there is a downward gap short-term pressure is too large, at the same time here is also a descending flag descending trend line position, short-term rebound may face the termination, the current KDJ, MACD double golden cross, copper market many times rushed back down to show that the upper pressure is too large, short-term is still dominated by high volatility, continue to pay attention to downstream procurement
.
