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Brief comment on the copper market, on Thursday, the main contract of Shanghai copper opened at 46880 yuan / ton in the morning, and fell after the opening, the center of gravity is located near 46830 yuan / ton, and the lowest level of the day was 46790 yuan / ton
.
Then the bulls entered the market actively, copper prices all the way high, the afternoon plate continued to maintain a high trend, up to the highest level of the day 46990 yuan / ton, the end of the session fell slightly, and closed at 46930 yuan / ton, up 100 yuan / ton, up 0.
21%.
In terms of the market, Shanghai spot copper quotations were at 46780-46920 yuan / ton, down 40 yuan / ton, for 1907 contracts, up 30 yuan / ton - 80 yuan / ton
.
The spot market is full of supply, with Shanghai copper slightly higher, traders on the July contract premium quotation slightly narrowed, good copper overall report in the liter of 70 ~ 80 yuan / ton, a few liters of 90 quotation, flat water copper is basically around 30 ~ 40 yuan / ton, wet copper is mostly around 50 ~ 40 yuan / ton, traders are actively shipped, the overall transaction is acceptable
.
The US dollar was affected by the Fed's interest rate cut expectations in the second half of the year, the US index fell all the way, forming a positive support for copper prices, copper prices were overall higher during the day, but at the macro level, the market is waiting for the G20 summit to be held, and the uncertainty of the economic and trade atmosphere makes the market cautiously bullish
on copper prices.
Wait for the guidance of the external market to test whether Shanghai copper can continue to test and stand at the 47,000 yuan / ton mark
.
Shanghai copper main force 1908 oscillation-based, closed at 46930, the band trend, the overall fluctuation range of 45000-47000-51000, the recent Shanghai copper shock weak trend, not from its own supply and demand brought downward momentum
.
46000 is successively returned to the long order, 45500 line is a strong support
.
