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Brief review of Shanghai copper on August 22

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

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Today's morning Shanghai copper main 1810 contract opened at 48730 yuan / ton, short positions increased at the beginning of the session, copper price center of gravity sinking, to 49600 yuan / ton first-line shock operation, amplitude of about
100 yuan / ton.
In the afternoon, copper prices slightly rose to 48720 yuan / ton after being blocked, a large number of short positions increased, copper prices plummeted, to the low of the week of 48130 yuan / ton, the end of the session closed slightly at 48290 yuan / ton, down 170 yuan / ton, 5-day moving average bottom
.

Shanghai copper

South Reserve East China: The average spot price of electrolytic copper was 48,750 yuan, up 70, and the price of the premium was 120 to 160, down 80
.
In East China, imported copper continued to arrive, holders were pessimistic about the future market premium, and the market was more afraid of falling and waiting, intraday premium compared with yesterday's sharp decline, the transaction began to improve, but overall it is still not good
.
Today's premium copper mainstream trading pair futures contract premium 160-170 yuan, flat water copper premium 110-120 yuan, wet copper premium 70-80 yuan
.

South China Reserve: The average spot price of electrolytic copper was 48830 yuan, up 130, and the price of the discount was 210 to 230, down 25
.
In Guangdong, inventories fell sharply, and some holders wanted to ship at a high price, and the premium was as high as 300 yuan, but few people received goods; Subsequently, some holders sharply reduced the price of shipments, causing the rise to fall back to about 200 yuan, and the transaction improved
.
Overall, today's transaction is average, and the intraday premium is high and low
.
The premium copper mainstream trading pair futures contract premium 230-240 yuan / ton, flat water copper premium 200-220 yuan / ton
.

Today's U.
S.
dollar index fluctuated in a narrow range along the daily moving average, the macro bearish atmosphere remained strong, and the bears entered the market at midday to kill the decline, and Shanghai copper gave up all the gains of the week
.
In the evening, pay attention to the weekly MBA mortgage application activity index in the United States, EIA gasoline and crude oil inventory changes, and the total number of existing home sales in the United States in July annualized, which is expected to continue to fluctuate
at a low level above 48,000 yuan / ton in the evening.

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