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April 17 Shanghai copper afternoon review

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Overnight, the main 1906 contract of Shanghai copper opened at 49480 yuan / ton, after the opening around the daily moving average narrow range, due to the long liquidation, copper prices have fallen, the center of gravity in the low 49410 yuan / ton around the short term hovering after rebound, quickly up to around 49505 yuan / ton, after the short-term high of 49570 yuan / ton, the copper price slowly fell, closing at 49400 yuan / ton
.

Shanghai copper

Spot due to the small proportion of good copper in the market, and the tight market expectation of supply, the willingness of holders to raise prices is strong, there is no discount source last afternoon, and the premium will continue to rise
during the day.
It is expected that Shanghai copper will be 49350-49800 yuan / ton, and spot premium 20-liter will be 150 yuan / ton
.

Investors await China's first-quarter GDP and industrial value added data, and their sentiment is cautious; The fundamentals are in a short-term improvement and long-term short glue situation, the second quarter of the smelter maintenance more, downstream consumption gradually improved, inventory generally declined, but the consumption field in the year is difficult to find increments, refined copper supply in the second half of the year or concentrated release, long-term suppression of copper prices upward difficulties, copper market lack of directional guidance, it is expected that today's spot copper prices remain stable
.

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