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April 16 Shanghai copper brief commentary

 Last Update: 2022-12-09
 Source: Internet
 Author: User

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Today's Shanghai copper main 1806 contract opened at 50350 yuan / ton
in the morning.
Affected by the external market at the beginning of the session, bears entered the market on a large scale, dragging down copper prices, and the low point was 50,070 yuan / ton
.
Then the bulls followed, pulled up the copper price, along the 50280 yuan / ton line of oscillation operation, after the first trading time, the copper price center of gravity moved up, touched the daily moving average, sorted out in the range of 50320 yuan / ton -50420 yuan / ton
.
In the afternoon, bulls increased their positions, bears retreated, and copper prices crossed the daily moving average all the way up, touching 50610 yuan / ton
.
Late trading bulls took profits, copper prices fell slightly, closing at 50490 yuan / ton, down 30 yuan / ton
.

Shanghai copper

South Reserve East China: the average spot price of electrolytic copper was 50,390 yuan / ton, down 170 yuan / ton; Liter discount quotation, 40 to 80 yuan, up 5
.
In East China, the morning holders' quotations were small and firm, and the actual market reaction was relatively flat, and then due to the increase in shipments, the premium declined, but the receivers were still generally afraid of heights and the sentiment of taking goods was weak, and the overall trading atmosphere was slightly worse
.
As of the close, the premium copper mainstream trading pair futures contract premium 60-80 yuan, flat water copper premium 20-50 yuan, wet copper discount 0 yuan
.

South China: the average spot price of electrolytic copper was 50,540 yuan / ton, down 220 yuan / ton; The price of the liter discount was 200 to 230 yuan, down 45 yuan
.
In Guangdong, the transaction enthusiasm of both buyers and sellers on the delivery day is not high, and the intraday transaction is mainly concentrated in the downstream just need users, and the low-price copper transaction is better, but the overall transaction is very cold
.
As of the close, the premium copper mainstream trading pair futures contract premium of about 230 yuan, flat water copper premium 190-210 yuan, imported copper premium about
170 yuan.

Today's Shanghai copper main 1806 contract overall showed a volatile upward trend on the day, closing the night decline
.
On the technical side, the upper moving average is connected, the pressure is large, and the effective support
has not been found below.
It is expected that copper prices will be volatile in the evening, paying attention to the trend of the external market
.

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