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Overnight, the Shanghai copper 1610 contract opened sharply lower at 36970 yuan / ton, after the opening copper price back tested the 60-day line, randomly by the bears strong pressure and back down, then the bulls came back to break through the daily moving average pressure again, helpless bears full of confidence to shoot down the copper price to 36730 yuan / ton, and finally Shanghai copper closed at 36850 yuan / ton, down 240 yuan / ton
.
Overnight Shanghai copper continued to rush back down, the 60-day line was under serious pressure, and the moving averages were basically arranged in a bearish arrangement, and it is expected that Shanghai copper will run
within 36800 yuan / ton to 37200 yuan / ton today.
Market: On August 23, Shanghai electrolytic copper spot reported a discount of 70-20 yuan / ton, and the transaction price of flat water copper was 37030-37080 yuan / ton
.
The opening copper newspaper discount is 30 yuan / ton, and the flat water copper newspaper discount is 60 yuan / ton
.
When the plate was close to 37,000 yuan / ton, the enthusiasm for downstream buying showed up, but the holders continued to sell wet copper, and the quotation was firm at a discount of 80 yuan - 70 yuan / ton
.
At the same time, traders turned to the purchase of cost-effective PC copper, and it was difficult for the market to have room for price reduction, and bargaining was acceptable
.
Overnight, the main contract of Shanghai copper opened low to 37290 yuan / ton, as the US dollar index oscillated and rebounded, due to the lack of focus, short-term London copper sharply reduced positions, indicating that funds continue to flee the copper market, making copper prices light
.
It is recommended that the Shanghai copper 1610 contract is still backed above 37,000 yuan, and it is prudent to hold long
.
