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This week's Shanghai copper test low rebounded
.
At the beginning of the week, the main force of Shanghai copper closed the doji, the center of gravity fell again compared with last week, directly under pressure on the 20-day moving average, running in the range of 49700-50150 yuan / ton, the US dollar index broke through the 97 mark in the middle of the week, London copper fell sharply, Shanghai copper gap low open lost 49000 yuan / ton mark, Thursday morning 1901 contract gradually increased positions, positions exceeded 1812 contracts, the main position was successfully moved to 1901 contract, Shanghai copper low fell to 48450 yuan / ton, fell in the lower Bollinger rail
。
This week, Lun copper first fell and then rose
.
At the beginning of the week, London copper tried to test back to the 20-day moving average, the high broke through the $6200 / ton mark, touched the high of $6240 / ton, and then by the United States released September personal consumption expenditure month-on-month data better than the previous value boosted, the U.
S.
index strengthened to 96.
7, in addition, the pessimism of the U.
S.
stock market fell again to affect the futures market, the dollar is strong and macro sentiment double pressure, the center of gravity of London copper fell sharply below the 60-day moving average, the low fell to 6014.
5 US dollars / ton, temporarily holding the 6000 US dollars / ton mark In addition, Italy's economic growth stalled for the first time in nearly four years, the US monthly Chamber of Commerce consumer confidence index hit an 18-year high, the dollar continued to maintain a strong trend above 97, London copper lost all moving averages, and fell below the 6,000 US dollars / ton integer mark, the low fell to 5984 US dollars / ton, a low
of nearly a month and a half 。 At the weekend, there was good news in Sino-US relations, the US index fell back to the high, and London copper returned to a wide range above $6,000 / ton, recovering more than a week of losses and the lost recent moving average, returning to above
the 20-day moving average.
In terms of spot, the premium has been higher this week
.
At the beginning of the week, because the long order is basically over and near the end of the month, the buying order is weak, the holder's willingness to exchange cash is strong, the spot discount is expanded to report a discount of 130 yuan / ton ~ discount 80 yuan / ton, some traders close a large discount source to buy cash selling period, the transaction atmosphere has improved, the last trading day of October, coinciding with the collapse of the market, the holder has a strong willingness to hold up the price, narrow the discount and transfer to the liter, and try to raise the premium quotation, but because the price difference narrowed to 20 ~ 30 yuan / ton in the next month, speculation and buying and selling period are little space, It has inhibited the speculative willingness of some traders, and the downstream fear of decline is not eager to enter the market, only maintaining rigid demand
.
Under the continuous closure of the import window, and just entered November, the market quotation remained stable at 10 yuan / ton ~ 30 yuan / ton, short-term spot is still stuck in a stalemate between supply and demand, and it is difficult to show a unilateral situation
for the time being.
