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April 10 Shanghai Copper spot Market Express: low rising Water attracts long single users to close transactions first and then rise
Apr 10,2020 11:56CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, April 10: Shanghai electrolytic copper spot contract today rose 30 yuan / ton ~ 60 yuan / ton, Pingshui copper transaction price 40880 yuan / ton ~ 41010 yuan / ton, Shengshui copper transaction price 40890 yuan / ton ~ 41020 yuan / ton. Today's Easter LME closed, Shanghai copper prices along the 40900 yuan / ton shock finishing. The morning market quotation rises 50 ~ 70 yuan / ton, but the market quotation transaction is suppressed, the holder strives to exchange, the quotation drops quickly, appears the almost halving situation again, until the flat water copper is as low as 30 yuan / ton, the good copper is as low as 40 yuan / ton, just ushered in a wave of positive trading, the low price source attracts the favor of some long single traders. The rising water can hold up, the flat water copper maintains the stability in the rising water 40-50 yuan / ton, the good copper quotes in the rising water 60 yuan / ton, the rising water maintains the stability but the transaction heat drops rapidly, the wet copper quotation is near the flat water copper. Today, the scope of the concussion, downstream trading participation is limited, the market trading is mainly led by traders, close to the low rising water pattern near Pingshui is favored by long single users, today and next Monday LME are closed, the domestic may lead out of the challenge 41000 yuan / ton barrier situation, but the spot market fear of high caution risk aversion is still difficult to dissipate.

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