The opening time of the electronic disk is 09: 00-03: 00 (the next morning), which is British time.
We arrived in Beijing, China one hour earlier, so it ended at 2 am.
LME Copper 03 is a 24-hour transaction. Traders declare transactions by telephone, which is not an electronic trading system, and there should be no time-sharing trading volume.
LmeS_ Copper 03, members must have time-sharing transaction volume statistics when trading through electronic trading system.
The second question is: What software can look at the real-time market, the correct trading volume, and the charges? Boyi, Wenhua and Fuyuan all seem to be delayed.
In Asian time, China's power is dominant. It is normal for electronic disk to follow Shanghai Copper, and anyone may affect it for a period of time. You should have seen the real-time market and cultural market of Fuyuan. Maybe the server sometimes leads to the wrong price, but it is basically the same.
When many friends look at the futures market, they often point out that they don't know the difference between LmeS copper 3, LME copper 03, on-site copper 03 and comprehensive copper 03 in LME market. I guess you are in the same situation. Let me explain it to you.
LmeS for London Metal Exchange copper: 09: 00-03: 00 (next morning)
Please note: in summer, due to the use of daylight saving time in the UK, the Beijing time of the transaction is advanced by 1 hour.
LME Copper 03: OTC trading (also called office or telephone trading): 24 hours a day.
On-site Copper 03: Ring Trading &; OTC): 19: 45-0 1: 00 (the next morning)
Please note: in summer, due to the use of daylight saving time in the UK, the Beijing time of the transaction is advanced by 1 hour.
Comprehensive Copper 03: In order to let everyone see the overall trend of Lme market, Wenhua Finance added virtual varieties such as comprehensive copper 03, comprehensive aluminum 03, comprehensive zinc 03, comprehensive nickel 03, comprehensive tin 03, comprehensive lead 03 and alloy comprehensive 03 outside Lme in real time.
Virtual variety integrates off-site, on-site and electronic disk (Lme-Select), which makes the minute chart more complete, continuous and regular, and can fully reveal the overall trend of Lme.
There are two trading hours in LME circle, one in the morning and the other in the afternoon, a total of four circles. At the end of intra-circle trading in the morning, that is, the last spot quotation of intra-circle trading in the second quarter becomes the official settlement price of LME. This price is generally recognized by relevant markets and is usually regarded as the basis of spot pricing.
Futures premium means that the recent price is lower than the forward price. For example, if the spot/three-month futures price is $65,438+08 (that is, $65,438+08c), it means that the spot price is $65,438+08 lower than the three-month futures price. Assuming that the three-month price is 1680 USD/ton, the spot price is1662 (1680-18 =1662) USD/ton.
Futures premium means that the recent price is higher than the forward price. Contrary to the above example.
If the spot price is higher than the futures price, it is said that the spot has a premium to the futures, or the futures have a premium to the spot.
Through the quotation screen of LME in Reuters, we can generally see two quotations, one is the trading quotation of copper for three months, and the other is the quotation of premium, which is represented by (c) and (b). The spot price is equal to three months of copper minus premium (or three months of copper plus premium).
The following English content is taken from the official website of LME.
Regular trading-During regular trading (London time11.45-17.00), LME staff continuously input the buying price, selling price and trading price of metal and plastic futures and options contracts, and the trading will be broadcast live.
The above-mentioned segmented on-site transactions. Wenhua live copper 03 is this.
Inter-office market-24 hours a day, brokers can conduct "inter-office" transactions by telephone, during which member companies input pre-trading indicative bids and asking prices for metal and plastic futures and options contracts.
We are talking about 24-hour trading here, and traders make statements by phone. This is what Wenhua's "LME Copper 03" refers to.
LME Select–Between 0 1.00 and 19.00 (London time), LME member companies electronically execute all LME contracts, and these contracts are directly published to franchisees and member companies through LME Select feed.
Members trade through the electronic trading system, 0 1: 00- 19: 00, and LmeS_ Copper 03 of Wenhua is the transaction.
Import cost = (LME March futures price+premium in corresponding month+onshore premium) * exchange rate *( 1+ value-added tax) *( 1+ tariff)+miscellaneous tax.
Import proportion = import cost/(LME March futures price+corresponding monthly premium)
Note: LME does not implement price limit system.