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The dollar index rebounded sharply, and copper prices fell
sharply.
Although China's manufacturing prosperity index climbed in April, but for the overall demand side driving effect is limited, London copper holiday fell more, Shanghai copper main force plunged low close to the 51,000 yuan mark, macroeconomic risks still have great uncertainty, fundamental copper mine strike events or copper prices have some support, but the strike from the current situation no further movement, currently into May, consumption is still continuing to recover, we expect Shanghai copper today to continue to narrow volatility, in the short term there is no obvious rebound basis, Investors are advised to wait for copper prices to stabilize before proceeding
.
In terms of the market, during the May Day holiday, Lun copper fell below 6800 US dollars, today's opening Shanghai copper to make up for the fall, more than 500 yuan / ton decline from before the holiday, the holiday return, the first trading day of May, the holder still tried to raise the price, the initial quotation discount 20 yuan / ton ~ premium 20 ~ 30 yuan / ton, but the response was weak and the buying was weak, the holder gave up the price, lowered the quotation shipment, good copper took the lead to reduce the flat water ~ premium 10 yuan / ton of the first line, flat water copper fell to the discount of about 40 yuan / ton, the transaction gradually improved
。 Today's market rushes to cash out are profitable due to pre-holiday buying and selling, and the trading contribution mainly comes from the dip replenishment of some traders
.
On the first trading day after the holiday, the performance of the futures market was still unstable, the spot quotation was rapidly reduced, and whether the spot quotation could stabilize was determined by the holder's ability to raise prices and the willingness to
cash out.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders of high prices and high premium shipments, because the fine cost price difference continues to narrow, most of the downstream turn to the purchase of high-quality electrolytic copper, conducive to the further increase in consumption demand for electrocopper, because the current premium is too high, downstream shutdown and production reduction phenomenon increases, holders continue to sell, the overall transaction is more quiet
.
