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Today's copper price is still dominated by shock sorting, Shanghai copper main force 1706 month low warmed up, after the morning opening at the lowest point below the daily moving average smoothly warmed up, then near the moving average after finishing after the rise expanded, in the afternoon reached the highest point of 46550 yuan after a slight pullback, the end of the rebound, and finally closed at 46480 yuan, down 150 yuan, down 0.
32%, the position increased to 4282 hands to 229730 lots
.
Today's LME March copper shock rose, opening at $5625 in the morning, opening from the lowest point of $5624.
5, then maintaining a unilateral rise, short-term sideways after the pulse rose to the highest point of $5732.
5 at noon, a slight correction at the end of the day, and the domestic trading session closed at $5719
.
News: China's foreign trade picked up, and China's exports hit the highest growth rate in two years in March as demand from developed countries picked up
.
The high level of the trade surplus is mainly due to the retreat of the Spring Festival factor, in addition to the recovery of the domestic economy and demand to accelerate imports, and the increase in exports indicates the economic recovery
of developed countries.
The recovery in China's demand is mainly reflected in the surge in China's demand for imports of crude oil and iron ore, which also indicates that the market may continue to look forward
to the domestic consumption season.
Spot market: Today's market trading was flat, slightly lower than the previous trading day, trading is mainly concentrated in the morning period, downstream bargain hunting
.
Trading slowed
after the afternoon price rally.
Today's flat water copper and wet copper prices rebounded, and good copper kept the premium unchanged
.
The afternoon discount is basically unchanged compared with the morning, good copper reported at B40-B60 yuan / ton, flat water copper B00-B20 yuan / ton, wet copper C50-C40 yuan / ton or so
.
According to the survey results of the Shanghai Nonferrous Metals Trading Center, most traders hold a downward view, and a small number of traders hold an upward view
.
From a technical point of view, LME copper rebounded in March, but the daily K-line came under pressure at the MA moving average track, and the BOLL opening was downward, and there was no clear signal
of price recovery.
Shanghai copper 1706 contract, daily level, K line continues to move down along the 5-day moving average, MACD black line expands, dead cross downward unchanged
.
It is expected that the short-term price recovery momentum will not be strong, and it will still be weak
.
