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On Wednesday, the main 1902 contract of Shanghai copper opened at 48050 yuan / ton in the morning, the bulls left the market at the beginning of the session, copper prices fluctuated slightly down to below the daily average of 47980 yuan / ton, during the upward test of the intraday high of 48080 yuan / ton was blocked to fall, and then in the 47980 ~ 48050 yuan / ton range narrow range, during the period many times in the 48040 ~ 48050 yuan / ton range upward unsuccessful, before the afternoon of the Asian market, bulls exited, bears brought in positions, copper prices from 48010 yuan / Tons fluctuated all the way down to the low of 47,900 yuan / ton
within the day.
In the afternoon, bulls left the market, copper prices once again oscillated down to the intraday low of 47840 yuan / ton to be supported, fortunately the low short exit, copper prices low rose to above the daily average of 48010 yuan / ton, at the end of the day, copper prices more support in the daily average in the range of 47950 ~ 48040 yuan / ton slightly oscillated, the amplitude did not exceed 50 yuan / ton, closed at 48040 yuan / ton, up 130 yuan / ton, up 0.
27%.
Externally, the LME market was closed for Boxing Day
.
In terms of the market, the intraday and internal trading is a suspension stage, and the internal market maintains a slight volatility without guidance, and the Shanghai copper is sorted
out around 48,000 yuan / ton.
The market basically shifted to next month's invoice quotation, the enterprise was in the year-end settlement stage, and the cargo holders actively shipped with inventory clearance as the lead
.
The morning market quotation premium 10 ~ 60 yuan / ton, the transaction is difficult, the willingness of the holder to exchange cash is eager, the transaction above the flat water copper flat water is more difficult, the flat water copper quotation discount 10 yuan / ton, good copper quotation premium 40 ~ premium 50 yuan / ton
.
In the second trading session, some traders sold flat water copper sources at low prices as low as a discount of 30 yuan / ton, good copper maintenance water around 40 yuan / ton, wet copper discount expanded compared with yesterday, based on a discount of 200 yuan / ton, the transaction discount expanded greatly
.
After the downstream concentrated low replenishment on the previous day, intraday buying is scarce, and traders' willingness to receive goods at the year-end settlement stage of enterprises is low, and the afternoon discount may continue to amplify
.
In the afternoon, because most enterprises entered the year-end settlement stage, shipments were small, good copper maintained the morning quotation, flat water copper still had room for price reduction, and the transaction was lighter
than in the morning.
During the day, the main center of gravity of Shanghai copper rose from the previous day, there was still no external guidance, continue to pay attention to the US dollar index and long and short trends, and test whether the main force of Shanghai copper can continue to consolidate near the daily moving average of 47980 yuan / ton
.
