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Today's morning Shanghai copper main 1809 contract opened at 49060 yuan / ton, yesterday's dollar high fell back, overnight Shanghai copper gap high, back to 49000 yuan / ton
.
After the morning market opened, bears immediately poured in, and copper prices gave up nearly all of last night's gains, to an intraday low of 48,600 yuan / ton
.
Subsequently, a small number of bulls bought low, copper prices rose slightly to 48870 yuan / ton, under pressure after a short shock of the daily moving average, short positions closed, copper price center of gravity continued to rise, to 48950 yuan / ton first-line shock operation, and then bulls replenished positions, pulling up copper prices to the intraday high of 49160 yuan / ton
.
At the end of the session, short and long exited, closing at 49020 yuan / ton, up 680 yuan / ton
.
Positions decreased by 1,472 lots to 213,000 lots, and trading volumes decreased by 38,000 lots to 358,000 lots
.
In terms of macro, the Ministry of Human Resources and Social Security: from January to June, a total of 7.
52 million new urban jobs were created, an increase of 170,000 year-on-year; At the end of the second quarter, the national urban registered unemployment rate was 3.
83%, falling to a multi-year low
.
Trump said late last week that regions such as the European Union have been manipulating exchange rates and lowering interest rates, while the United States is raising interest rates and the dollar is becoming stronger, causing our competitive advantage to decline.
Criticize the Fed for tightening monetary policy, and now tightening it hurts
everything we do.
Industry news, London news, the International Copper Research Group (ICSG) said in its latest monthly report that the global refined copper market was short of 98,000 tons in April and a surplus of 66,000 tons
in March.
In the first four months of this year, the global copper market was oversupplied by 61,000 tonnes, compared with 6,000 tonnes
a year earlier.
The report also showed that global refined copper production in April was 1.
95 million mt, while consumption was 2.
04 million mt
.
China's bonded copper stocks were 95,000 tonnes short in April and 58,000 tonnes
in March.
Today's copper price oversold rebound, jumped to the 5-day moving average, although bears still have a suppressive action, but due to the impact of new domestic asset management regulations, MLF expansion of collateral and the new 502 billion yuan operation policy, domestic capital is expected to recover slightly, market confidence has warmed up, and many forces have begun to rise
.
In the evening, pay attention to the annualized data of the total number of existing home sales in the United States for June and external guidance
.
The long and short sides repeatedly competed in the sensitive area of 49,000 yuan / ton, continued to pay attention to whether the long side could gain the initiative, and tested the support capacity
of the 49,000 yuan / ton integer mark in the evening.
