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Today's Shanghai copper main force 1705 month high volatility, after the morning opening continued to rush to the overnight high of 47750 yuan under pressure and decline, then launched a narrow range of shock, before the close price rebounded again, finally closed at 47670 yuan, up 310 yuan, or 0.
65%, the position increased by 8384 lots to 215,000 lots
.
Today's LME March copper fluctuated in a narrow range, opening at $5835.
5 in the morning, rising to $5840.
5 after the open, then falling under pressure to a low of $5814.
5, after which it rebounded to near the flat, and the price fell again to $5819 in the afternoon, continuing to rally near
the flat before closing.
The domestic trading session closed at $5,833.
5, down -0.
03%.
Market: Today's Shanghai Nonferrous Metals Trading Center (SME), spot copper mainly traded 47030-47230 yuan / ton in the morning, up 180 yuan from the previous working day, and the premium to the 1704 contract was reported at c340-c140 yuan / ton
.
The copper spot price index was trading at 47200, up 180
from the previous session.
Today's market is trading lightly, and high copper prices have led to a continued
decline in purchasing activity.
Today's delivery factors, traders' willingness to cash has increased, the market shipments are more, and brands are mostly
imported.
Downstream manufacturers continue to be afraid of heights and purchase a small amount on demand
.
In the afternoon, the discount expanded with the good copper pair 1704 contract at C180-C170 yuan / ton, flat water copper C270-C240 yuan / ton, wet copper C350-C330 yuan / ton or so
.
According to the survey results of the Shanghai Nonferrous Metals Trading Center, most traders continue to hold an upward view, and a small number of traders hold a volatile view
.
News: The current Chilean copper strike has changed again, the union has once again rejected BHP Billiton's request for reconciliation, and the Peruvian Freeport strike may end next week, it is currently estimated that the Chilean copper mine strike caused a 120,000 tons of production cut, which supports copper prices in the near future, in addition to the overall optimism of China's main economic data for February released yesterday, which continues to support
copper prices.
The Fed will discuss interest rates tonight, and raising interest rates is a high probability event, and it is expected that there may be a huge shock in copper prices in the short term
.
From the perspective of futures, today's daily K line continues to stand above the 60-day moving average, the BOLL track converges steadily, focusing on the pressure at BOLL mid-band 48100 yuan, MACD black line narrowed slightly, and the trend line stabilized
.
Short-term copper prices may be mainly volatile, and continue to pay attention to downstream procurement trends after delivery and dollar interest rate
hikes.
