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Today's Shanghai copper main force 1705 months narrow range, after the morning opening maintained below the daily moving average oscillation, midday slightly warmed up, late back above the daily moving average after falling, finally closed at 47810 yuan, up 490 yuan, or 1.
04%, the position increased by 2210 hands to 191346 lots
.
Today's LME March copper low volatility, the morning opened at $5901, after the opening of the price wide volatility, after touching the lowest point of $5877 after rebounding and rising, noon back and shock sorting, midday rebounded again and touched the highest point of the day of $5912.
5, late pullback, domestic trading session closed at $5892
.
Macro: Trump noted that he is considering accelerating infrastructure plans and may put them on
the health care or tax reform agenda.
The infrastructure plan is compelling enough that, if it can be advanced in advance, it can help the trust
of the Trump Gala and the market.
In addition, the advance of infrastructure plans may also trigger a wave of
increases in commodity markets, especially metal prices.
Spot market: Today's Shanghai Nonferrous Metals Trading Center (SME), spot copper mainly traded 47490-47600 yuan / ton in the morning, up 515 yuan from the previous working day, and the premium was reported at C100-B10 yuan / ton, up 35 yuan / ton
from the previous working day.
The copper spot price index was at 47583.
5, up 504.
5
from the previous session.
Today's market trading is flat, supply-side supply tightened, smelters received goods positively, while downstream manufacturers remained on the sidelines because of the price recovery and narrowing discounts, and traders' enthusiasm for purchasing fell
.
The afternoon discount is basically the same as in the morning, good copper reported at B00-B10 yuan / ton, flat water copper C80-C50 yuan / ton, wet copper C100-C100 yuan / ton or so
.
According to the survey results of the Shanghai Nonferrous Metals Trading Center, most traders hold a volatile view, and a small number of traders hold a declining view
.
Today, the market supply has tightened significantly, affected by this, the spot discount has further narrowed, and good copper has turned to a premium, but the downstream is afraid of heights, consumption is slightly weak, wait and see
.
Large manufacturers also have sufficient reserves in the early stage, and the short-term procurement demand is not very strong
.
From a technical point of view, the 1705 contract, daily level, BOLL orbit narrows, the K line forms a doji above the middle band, and supports at the 60-day moving average, the MACD white line amplifies, and the trend line golden cross rises
.
The upside of short-term premiums may support
copper prices.
