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On Tuesday, the Shanghai copper 1609 contract opened at 38400 yuan / ton, long and short competition at the beginning of the session, copper prices around 38400 yuan / ton high oscillation, high touch 38490 yuan / ton, black series fell again, long closed positions to avoid safety, copper prices reduced positions downward, afternoon with the black series expanded the decline, bulls accelerated to close positions, copper prices quickly fell back below the daily moving average, low touch 38060 yuan / ton, the end of the short profit left the market for safety, copper prices low rise, to 38300 yuan / ton closed at the barefoot big white line, up 450 yuan / t tons
.
In foreign countries, London copper opened at 4939 US dollars / ton, and the long and short sides at the beginning of the Asian market competed for the daily average of 4938 US dollars / ton, and copper prices fluctuated
in a narrow range.
Dragged down by the decline in crude oil at noon, the London copper shock fell back to 4902.
5 US dollars / ton, fell below the 5-day moving average, dragged copper prices back below the daily moving average, as low as 4902 US dollars / ton, and found support at the integer mark, during which the market was cautious and trading was light
.
As of 18:00, London copper was reported at $4948.
5 / ton, up $13 / ton
.
In terms of the market, Shanghai copper rose 200 yuan / ton from yesterday, and the current copper premium narrowed, but it was limited to good flat water copper and good copper, and wet copper was not interested, reflecting that the downstream did not recognize the current plate price, and the willingness to receive goods at high prices was low
.
Towards late July, bullish sentiment remains, with traders preferring to source good copper at a low discount to deliver long orders
.
Intraday transactions continue to be active, but concentrated among traders, holders have begun to show willingness to rise water, good copper has signs of gradually tending to rise, but subject to sufficient supply of supply, supply and demand will still have a stalemate
for a period of time.
In the afternoon, the copper price fell, the spot discount was 30-liter 10 yuan / ton, the holder's quotation insisted, the transaction price was 38020-38160 yuan / ton, the actual transaction was difficult
.
The market is still resistant to
premiums.
On the whole, the global easing expectation remains unchanged, the US dollar crude oil has recently consolidated, copper fundamentals remain weak, the domestic economic data in the second quarter is weak within market expectations, spot, premium to discount, downstream still buy down not buy up, consumption off-season holders do not hesitate to sell, because of the demand off-season, the market chasing higher still needs to be cautious, above 41000 for the pressure level
.
