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August 16 Shanghai copper morning review

 Last Update: 2022-12-06
 Source: Internet
 Author: User

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dollar spot disease

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Overnight, the main force of Shanghai copper 1710 opened at 50330 yuan / ton, after the opening of the short position into the market, copper prices suffered a round of straight down, directly fell below 50000 yuan / ton to the 20-day moving average of 49880 yuan / ton, after receiving support, the center of gravity rose slightly, maintained around 50,000 yuan / ton oscillating operation, and finally closed at 49990 yuan / ton, warehouse increased 5276 hands to 232,000 hands
.

Shanghai copper

In terms of the market, as of 2017-8-15, the spot price of 1# copper is 50120 yuan / ton, up 70 yuan / ton from the previous day, and the premium is 240 yuan / ton compared with the near-month contract, yesterday was the last trading day of the 1708 contract, the basis of the morning market next month is large, the market is still quoting the 1708 contract, the middleman takes advantage of the price difference, the enthusiasm for receiving goods is still good, the basis fluctuates greatly at about 10 points, the holders have turned to the 1709 contract quotation, the basis is slightly narrowed and the speculative attractiveness is reduced, The middlemen wait for the discount transaction after tomorrow's month-change, and the downstream wants to wait for the copper price to re-enter the market when it pulls back, the overall characteristics of the month, the quotation is more, the exchange is difficult, and the transaction activity is difficult to increase
.

At present, the recent retracement of copper prices is a technical pullback to previous rounds of rally, and it is expected that there will be a certain consolidation around 6350 in the short term, in addition, the dollar also rose to a certain extent yesterday, and it is expected that today's internal 1710 range of 49750-50100 yuan / ton
.

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