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The copper market recalled that the performance of the Shanghai copper 1905 contract continued to fall
on Thursday.
Opened at 49390 yuan / ton in the morning, opened slightly bottomed out at 49320 yuan / ton and rebounded, rebounded to 49390 yuan / ton around a narrow range, during the high of 49420 yuan / ton, the performance before noon slowly lower, has fallen to 49340 yuan / ton
at noon.
In the afternoon, the bulls actively left the market, the price fell rapidly, the center of gravity of copper prices in the afternoon opening soon fell to 49220 yuan / ton, and then maintained stability at this level repeatedly oscillated, near the close of the low 49150 yuan / ton, closed at 49210 yuan / ton, down 250 yuan / ton, down 0.
51%.
South Reserve East China: The average price of electrolytic copper was 49860 yuan, down 60, and the price of the month's premium was -120 to 10, down 80
.
East China: April contract to March contract basis widened, early holders have cut prices to dump goods, discount rapidly expanded, buyers cautious wait-and-see more, some buyers received goods at the dip, the discount slightly stopped falling, downstream receipts were limited, basis changes became the main influencing factor
.
The transaction performance was not as good as yesterday.
As of the close, the premium copper premium to the futures contract of the month was 0-20 yuan, down 100 yuan from the previous day; flat water copper discount 120-130 yuan, down 70; Wet copper discount 200-220 yuan, down 75
.
South China Reserve: The average price of electrolytic copper was 49,870 yuan, down 30, and the price of the month's premium was -90 to 0, down 50
.
Guangdong: The basis widened, merchants took profit and actively shipped, and oversupply put pressure on spot prices
.
In the morning, Pingshui copper began to quote at -20 and -30, but the receiver was cautious and waited, and the shipper had to continue to reduce the price and add cash
.
The subsequent flat water copper discount first stagnated at -60 yuan / ton, and then quickly fell to -90 yuan / ton, and the low price began to be traded, but traders are afraid of high willingness to receive goods is still poor, while downstream procurement is also weak, the overall transaction is weak
.
After eleven o'clock, the price of flat water copper fell further by 100 yuan / ton, in addition, the supply of good copper was small, and it entered delivery next week, the price was relatively firm, and the flat water was traded
around .
The main force of Shanghai copper formed a 4-day negative force during the day, and the center of gravity fell below the 20-day moving average, and because the 5-day moving average and the 10-day both formed a cross before, disrupting the strong support pattern formed before, the MACD indicator green column lengthened
.
Continue to test whether the main force of Shanghai copper can hold the position
of 49,000 yuan / ton.
