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Overnight, the main Shanghai copper 1806 contract opened at 51,700 yuan per tonne
.
The opening was boosted by the external market, that is, it rose strongly to 52250 yuan per ton.
Then it fell slightly downward, away from the daily moving average, to 51750 yuan per ton of first-line oscillation operation, as high as 51860 yuan per ton, as low as 51620 yuan per ton.
The volatility continued at the end of the day, closing at 51,740 yuan per ton, up 1,100 yuan per ton.
Overnight, Lun copper rose strongly, driving Shanghai copper upward
.
Technically, it stands above the 10-day moving average and breaks above the 60-day moving average
upwards.
Shanghai copper stands at the 40-day moving average and touches the 60-day moving average
upwards.
It is expected that today's London copper 7000~7060 US dollars / ton, Shanghai copper main 1805 contract 51500 ~ 52000 yuan / ton
.
After the high interest rate hike expectations gradually cooled down, the US dollar is more likely to weaken, which supports copper prices, and the traditional consumption season superimposed on the supply of scrap copper contraction, the demand for refined copper further increases, and the potential for copper prices to rise is greater, so it is recommended that Shanghai copper hold more light positions
.
The discount continued to narrow in May and June, so it is recommended that the positive set of the portfolio continue to be held
.
Shanghai copper night market driven by the rise in the external market, once broke 52,000 far support line, near the close of the re-below the support level, the current fundamentals continue to improve, copper mine supply is obviously in short supply, copper prices below 50,000 support is still solid, it is expected that today Shanghai copper or continue to fluctuate widely, pay attention to the signs
of improvement on the demand side.
