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On Wednesday, the main force of Shanghai copper fell back to the 1707 month high
.
Copper prices immediately plunged lower in early trading, and after a slight struggle of 45,900 yuan, the price plunged again, and the decline widened in the afternoon, as low as 45,510 yuan, after which the price rebounded and the decline narrowed
.
It closed at 45,780 yuan, down 170 yuan, or -0.
37%, and index holdings increased by 12,888 lots to 582,000 lots
.
In terms of external trading, LME copper opened low in March, opened at $5712 in the morning, dipped after a narrow range, and the price continued to fall to a minimum of $5635.
5 in the afternoon, and rebounded slightly before the Asian market closed, and closed at $5666.
5 during the domestic trading session, down $57.
5, or -1.
00%.
In terms of the market, the market trading in the morning mainstream trading session is general, the current market circulation supply is more, the holders are active in shipments, but helplessly downstream in the case of copper prices continue to fall, temporarily wait and see, demand weakened, transaction is light, after the price stabilizes in the afternoon, downstream users absorb more low-priced sources, stocking confidence has recovered
.
At present, the spot copper liter discount is reported at C100-C50 yuan / ton
.
Among them, good copper C60-C50 yuan / ton, flat water copper C80-C70 yuan / ton, wet copper C100-C90 yuan / ton
.
In terms of news, Trump's budget was officially announced, but the external market did not have any performance, showing that the market was not optimistic, the demand for commodities did not bring about a revaluation, copper prices were slightly under pressure, and iron ore plunged again to suppress the market long atmosphere so that the copper market also plunged
.
From the 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 the 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
.
