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On March 6, Shanghai copper sorted out at a low level, and the decline at the end of the day expanded slightly, the main month 2004 contract opened at 45120 yuan / ton, the highest intraday 45120 yuan / ton, the lowest 44860 yuan / ton, settled 44960 yuan / ton, closed 44900 yuan / ton, down 440 yuan, down 0.
97%.
In terms of external trading, during the Asian session, London copper opened high and low, and the latest quotation at 15:04 Beijing time was 5652 US dollars / ton, down 19 US dollars, or 0.
34%.
In terms of the market, domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 44730 yuan / ton, down 330 yuan, discount 80-discount 20; Guangdong spot 1# copper price was reported at 44720 yuan / ton, down 320 yuan; Yangtze River spot 1# copper price 44760 yuan / ton, down 330 yuan, discount 30-discount 10; Shanghai spot 1# copper price was 44735 yuan / ton, down 315 yuan
.
Spot market holders continue to narrow their discounts, low-priced sources are favored by traders, downstream bargain replenishment, and gradually enter the delivery cycle
next week.
The impact of the overseas epidemic on global enterprises has intensified, causing concerns that it will have a more serious impact on the global economy, the macro atmosphere is generally empty, the fundamental support of the copper market is limited, and the future market pays attention to the recovery of consumption brought about by downstream processing plants rushing to buy
.
Shanghai copper running at a low level during the day, and has fallen below the 45,000 yuan / ton mark, mainly because the current global epidemic spread speed acceleration, the global economy has a greater impact, in addition to the Federal Reserve, the European Central Bank, the Bank of Japan, etc.
have also adopted economic policies to hedge the risk of the epidemic, while the economic impact has caused the market to worry about demand, OPEC this year further production reduction appears more urgent, oil prices are difficult to curb the pace of decline, U.
S.
crude oil has now fallen to $46 / barrel, Shanghai copper linkage continues to decline
.
It is expected that in the case of the short-term epidemic is difficult to improve, copper prices will be difficult to rise above
the 45,000 mark.
