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The long-short competition intensified, and Shanghai copper rushed back down during the day, and the main contract closed at 48670 points, up 0.
37%.
On the technical side, the market volatility has become significantly larger, London copper bottomed out and rebounded and then fell back, Shanghai copper performed slightly better, closed under pressure at the 5-day moving average, and the trading volume increased
.
The US dollar remained strong, the yuan fell below 6.
7, and the Fed's economic comments on the economy in the early stage may continue to be positive for the US dollar and put pressure on copper prices
.
It is expected that copper prices will remain weak in the near future, with increased volatility and cautious participation in operation
.
South Reserve East China: the average spot price of electrolytic copper was 48,780 yuan / ton, up 340 yuan / ton; Liter discount quotation, 0 to 40 yuan, up 95
.
In East China, the market supply and demand relationship turned balanced, smelters sold at high prices, traders were bullish after the market premium received good willingness, the morning low-priced source was quickly collected, so that the premium continued to rise strongly, at this time the receiver began to cautiously chase up, after the premium stabilized, the volume was amplified
.
Today's premium copper mainstream trading pair futures contract premium 30-40 yuan, flat water copper premium 0-10 yuan, wet copper discount 50-60 yuan
.
South China Reserve: The average spot price of electrolytic copper was 48960 yuan / ton, up 290 yuan / ton; Liter discount quotation, 190 to 210 yuan, up 50
.
In Guangdong, inventories continued to decline, and holders shipped at a high price, and Pingshui copper once reported to 200 yuan / ton in the morning, but receivers were generally unwilling to catch up with goods; Subsequently, the holder slightly lowered the quotation, but the transaction was still not good
.
In addition, some downstream users are not highly motivated to purchase due to the arrival of Shanghai copper
.
Overall, today's transaction is relatively quiet, significantly weaker than yesterday.
Today's premium copper mainstream trading pair futures contract premium 210-220 yuan / ton, flat water copper premium 180-190 yuan / ton
.