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This week's Shanghai copper index high fell back, Monday price at the high narrow range, overnight by the surge in foreign inventories, directly low open sharply lower, Wednesday slightly rushed back down, Thursday prices again affected by inventory, prices near the half-year line bottomed, Friday in the black tie drive continued to rebound
.
It finally closed at 47,290 yuan, up 280 yuan, or 0.
60%.
In terms of external trading, this week's LME stabilized after the sharp fall in March, affected by the sharp growth of LME copper inventories at the beginning of the week, copper prices fell sharply, coupled with the black series rushing high, once fell to a minimum of $5815 on Wednesday, and then the dollar index weakened two days later, London copper prices stabilized, and closed at $5865.
5 during the domestic trading session on Friday, down $93.
5, or -1.
56%.
In terms of the market, this week due to the large delivery of foreign inventories, resulting in a continuous reduction in import sources, supply is slightly tight, spot copper quotations began to fully rise on Tuesday, but off-season demand fatigue, Thursday copper prices from the high slightly after the decline to attract traders before the weekend to replenish, trading is more active
.
On Friday, spot copper prices remained stable overall, prices and premium prices did not change much, holders insisted on premium active shipments, downstream willingness to receive goods weakened, middlemen were not strong in willingness to take goods, suppliers continued to adjust prices and
shipments.
In terms of news, the peripheral copper market inventory once increased sharply this week, affected by this, copper prices fell
sharply from the high.
On Friday evening, the content of the Fed meeting may affect the near-term trend, and the market will look forward to next week's G20 summit, which will shed some light on
later economic changes.
From a technical point of view, the KDJ gold cross diverged on the week k, the MACD dead cross turned around, and the price stepped back to the 20-week moving average this week; On the daily K, MACD golden cross but the white line narrowed, KDJ dead cross, the price may continue to oscillate above the half-year line, short-term or will continue to maintain a strong operation
.
