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Friday morning Shanghai copper main 1810 contract opened at 48590 yuan / ton, the beginning of the session along the opening price after a short shock, short positions, copper price shock down to the intraday low of 48370 yuan / ton, then, bulls bargain with the entry of positions, copper prices low rebound, up to the intraday high of 48750 yuan / ton
.
At the end of the session, the bears took profits and left the market, and copper prices fell slightly, closing at 48580 yuan / ton, down 160 yuan / ton
.
In terms of the external market, London copper opened at 6043.
5 US dollars / ton, and the beginning of the session fluctuated along the 6030 US dollars / ton line, with an amplitude of about
20 US dollars / ton.
Starting in midday, copper prices slowly climbed, reaching a high of $6,070/mt, giving up all their gains to $6,027/mt
.
Entering the European and American time, the dollar fell, copper prices rose again, to 6067 US dollars / ton after still showing a blocked fall, as of 17:35, London copper reported 6057 US dollars / ton
.
In terms of the market, Shanghai copper under pressure 5-day moving average, hovering at 48500 yuan / ton, the last day of the end of the month, market funds and settlement is nearing the end, large traders no longer care about the speed of cash, the premium is pulled up again, the holder quotes the premium 100 ~ 130 yuan / ton, but unfortunately the holder is still wishful thinking, the market reaction is cautious
.
Small and medium-sized traders in the environment of still under financial pressure, there is a downward trend, flat water copper concentrated transaction in the premium 80 ~ 90 yuan / ton, good copper quotation premium 110 ~ 120 yuan / ton, low-price sources of goods are favored by traders, most of the downstream wait for the market after
the cross-month 。 On the last day of this month, the company has entered the final settlement stage, and because most traders go to Wuxi to participate in industry conferences, the market is basically lacking, a small number of quotation enterprises up, flat water copper premium expanded to more than 100 yuan, for next week's quotation to guide the direction, flat water copper rose 90 ~ liter 110 yuan / ton, good copper rose 120 ~ liter 140 yuan / ton, the afternoon transaction price was 48740 yuan / ton ~ 48840 yuan / ton
.
The offshore yuan fell back to 6.
85 again during the day, following the release of water by the central bank, the countercyclical factor seems to have little effect again, the depreciation of the yuan is difficult to improve substantially in the short term, the latest release of China's official PMI in August increased slightly compared with the previous value, from this point of view, the domestic economy is still worried, and the impact of the trade war is still continuing, copper prices have rebounded weakly, it is difficult to resist the bears to suppress.
It is expected to fluctuate
in a wide range along the daily moving average.
