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On Friday, the Shanghai copper 1905 contract opened at 48790 yuan / ton in the morning, after the opening copper price slightly lower 48690 yuan / ton, after many tests of status, copper prices rebounded, the center of gravity rose back to the daily average of 48820 yuan / ton, after narrow finishing, due to the domestic tax reduction time settled, the performance of the far month contract strengthened rapidly, copper price performance straight up, short-term high 49140 yuan / ton, copper price center of gravity again returned to the daily average of 48910 yuan / ton, after short-term shock, bears took advantage of the low exit, At the end of the session, copper prices rose again, touching 49,400 yuan / ton at the end of the session, and closing at 49,320 yuan / ton, up 60 tons, or 0.
12%.
In terms of the external market, the Asian market, London copper opened at 6392 US dollars / ton, after the opening copper price performance around the daily moving average oscillation, and then due to the sharp fluctuation of the US dollar down, London copper straight line 6457.
5 US dollars / ton, but failed to maintain stability at a high level, short-term high after giving up part of the gains, the center of gravity fell to below the daily average below 6416 US dollars / ton position, after the shock closed, at the end of the Asian market, copper prices once again showed shock and rose, in the short touch of a high of 6449 US dollars / ton after entering the European market, the beginning of the European market, the center of gravity fell slightly, As of 16:30, London copper was trading at $6433.
5/ton
.
In terms of the market, the State Council released the news of value-added tax reduction and launched the implementation on April 1, which caused the sharp fluctuation of Shanghai copper
.
In the morning, the price difference between the current month and the next month contract back structure widened sharply to 500-600 yuan / ton, the range fluctuated frequently, and on the last trading day of the 1903 contract, part of the market quotation turned to the next month's 1904 contract quotation
.
Near eleven o'clock, the VAT reform was announced to land, and the performance of the market changed wildly, once expanded to 1,000 yuan / ton, the holders basically stopped, and the market performance was priceless
.
The pattern of near strength and far weakness reflects the downward adjustment of price costs, and there is a certain expectation for downstream consumption in the future market, but in the short term, the spot premium may remain firm for a period of time after the delivery month
.
In the afternoon, the market has fully quoted the 1904 contract, but because the spread is stable at 1000 yuan / ton, the market performance is priceless
.
Intraday Shanghai copper main force 1905 contract shock pullback, the end of the market closed at 49320, the band trend, the overall fluctuation range of 49000-50000-51000, in terms of short rhythm, such as the early prompt, test below 49000 can be bargain long, the current pullback momentum has signs of
ending.
Although the future rebound space is uncertain for the time being, the risk of the 48800 stop loss below is still controllable
.
Therefore, try to go long, stop loss 48800
.
