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Last Friday, the main force of Shanghai copper 1710 opened at 50400 yuan / ton, after the opening experienced two rounds of slight decline, the low to 50170 yuan / ton
.
Subsequently, driven by the external disk, it hit the high of 50,700 yuan / ton, but failed to stand firm, and finally closed at 50,450 yuan / ton, and the position increased by 2,546 lots to 232,000 lots
.
As it is expected that the gap in copper mine supply will become more obvious in the future, the market is more bullish
.
At present, copper prices have not seen a sharp correction after a week of consolidation, and the support point below is obvious, and it is expected that the new
week may continue to rise.
In terms of the market, as of 2017-8-4, the spot price of 1# copper is 50230 yuan / ton, up 310 yuan / ton from the previous week, 110 yuan / ton higher than the near-month contract, Shanghai copper rose at the beginning of the week, the supply and demand sides showed a tug-of-war, the spot discount maintained a stable level of 100 yuan / ton - discount 60 yuan / ton, with the correction of the plate, downstream and traders entered the market actively purchased, the discount narrowed rapidly, and turned the discount into a premium, the bargain trading volume was significantly amplified, but although the holders have a strong willingness to hold the price, However, the premium level inhibited trading activity after the week
.
On the news, on Friday, affected by the US non-farm payrolls data for July, the dollar rose sharply intraday and returned above the 93 mark, reaching a maximum of 93.
765
.
Affected by the rise of the US dollar, the base metals fell during the session, but some varieties performed relatively strongly, and recovered at the end of the day, and finally recorded a mixed situation
.
The dollar bottomed out, and the Shanghai copper high continued to fluctuate, focusing on the five-day line scramble
during the day.
Intraday operation is recommended, mainly wait and see
.
