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On Friday, the main 1901 contract of Shanghai copper opened at 49350 yuan / ton in the morning, and after the copper price left the market at the beginning of the session, it crept at 49260 yuan / ton line, a large number of bears brought in with their positions, the center of gravity of copper prices fell slightly to 49147 yuan / ton, and then sorted out in a narrow range along the line of 49135 yuan / ton, during which it touched 49060 yuan / ton to get strong support
。 In the afternoon, the U.
S.
index continued to weaken, London copper began a sharp rally, half an hour up nearly $100 / ton, Shanghai copper by this boost center of gravity continues to rise, during the day high of 49960 yuan / ton was blocked to fall, at the end of the day, long profits exited, bears with positions in, copper prices slightly fluctuated downward, closing at 49830 yuan / ton, up 1040 yuan / ton in the day, up 2.
13%.
In terms of external trading, the morning London copper began to fall and then rebounded sharply, during the Asian session, London copper opened at 6129 US dollars / ton, after the opening copper price center of gravity slowly fell below the daily moving average, during the upward test broke through the daily average to 6139 US dollars / ton, fell to 6100.
5 US dollars / ton after narrow finishing, Then the US dollar index oscillated downward below 96.
3, and in the recent phone call between US President Trump and President Xi Jinping, he attached importance to Sino-US economic and trade cooperation, and was willing to coordinate with China to solve economic and trade problems, boosted by this, copper prices fell slightly and then rose straight up, strongly broke through the daily average to 6197 US dollars / ton, copper prices gave up part of the gains, fell to 6154.
5 US dollars / ton, the US index failed to stop falling, bears were afraid to leave the market, copper prices rose again, Asian market end, Copper prices climbed to an intraday high of 6240.
5 US dollars / ton, and then the center of gravity remained at 6216 US dollars / ton wide range shock, European session, the euro area and Germany, France October manufacturing PMI data release are less than expected, the euro retreated, the LME announced that inventories soared 43700 tons, London copper rushed blocked, from 6230 US dollars / ton fell sharply to 6173 US dollars / ton near the daily average, but the US dollar once fell below the 96 point mark, London copper rebounded again after finishing up to 6250 US dollars
。
In terms of the market, the low level of copper in Shanghai rebounded, returning to above 49,000 yuan / ton, and the holders maintained a stable quotation on the previous day, and continued to quote a discount of 10 yuan / ton ~ 30 yuan / ton
in early trading.
Good copper can be reported as high as 40 yuan / ton, although the market inquiry atmosphere is positive, but the transaction is still unsatisfactory, traders following the afternoon of the previous day when the market as low as 48500 yuan / ton when the bargain to receive goods, intraday performance hesitation, because the holders have no intention to reduce prices, so the supply and demand sides maintain a stalemate situation
.
The downstream maintained the rhythm of just-needed procurement, and the buying interest fell significantly from the previous day
.
Although the market has recovered slightly, the market does not have much optimistic expectations, inventory growth has decreased, and whether the market premium can be strengthened in addition to the guidance of the next month's price spread, will still depend more on the guidance
of demand.
In the afternoon, the holders wanted to continue to pull up the premium, but the market rose sharply, and the fear of heights rose again, and they had no choice but to lower the premium, and the transaction was suppressed by the price increase, and only a small number of traders inquired about the price
reduction.
During the day, the main center of gravity of Shanghai copper rose sharply between the middle and lower Bollinger bands, the high pierced the upper Bollinger band and the 20-day moving average, the KDJ opening expanded, and the MACD green energy column showed a narrowing trend, continue to pay attention to the short exit, wait for the guidance of the US dollar index, and test whether the main force of Shanghai copper can break through the 50,000 yuan mark
.
