I. Night trading
Night trading refers to the night trading in the futures market. The futures market is a trading place or place that trades according to the agreement and delivers on the scheduled date. The obvious difference between spot and futures is that the delivery period of futures is in the future, and the conditions such as price, delivery and payment quantity, method and place are agreed by buyers and sellers in the spot contract, and both commodities and securities can be traded in the futures market. Although the contract has been signed, the goods bought and sold by both parties may be in transit, may be in production, or even have not been put into production. The seller may or may not have goods or securities in hand.
Second, the formation of copper prices.
Industry experts said that electrolytic copper occupies a very important position in the industrial chain of copper products, and the formation of global copper product prices is based on electrolytic copper prices. The upstream copper concentrate price and the downstream copper plate and copper tube price are obtained by adding the corresponding processing fee to the current electrolytic copper price. Like the oil price, the electrolytic copper price in the international market is also formed in the futures market, and the LME copper price in the futures exchange and London is of exponential significance. Around 2003, affected by the double factors of international hot money speculation and the expectation of rapid growth of China market demand, LME copper prices began to rise for several consecutive years. At present, it has risen from 1.500 USD/ton to 8,000 USD/ton, and there is still no sign of a sharp decline.
As can be seen from the above, copper prices are rising at night. Night trading is night trading, but there is no night trading in China stock market for the time being, and there will be night trading in general futures market. Futures night trading hours are from 9: 30 pm to 2: 30 am from Monday to Friday.