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On Thursday, the main contract of Shanghai copper 1806 stabilized strongly, basically maintained the large increase recorded overnight, intraday trading at 52230-51660 yuan / ton, the end of the close to 51940 yuan / ton, up 1.
5% daily, hitting the highest point since March 20 52260, the current copper price has not fully effectively broken through the upper moving average suppression, the rebound height needs to be cautious
.
In terms of term structure, the positive price difference between the Shanghai copper 1805 contract and the 1806 contract rose to 220 yuan / ton
.
In the external market, Ashilun copper fell under pressure in the morning and rebounded slightly in
the afternoon.
Among them, the three-month LME copper reported $7058.
5/mt, up 0.
31% per day, running above the moving average group
.
In terms of positions, on April 17, the position of London copper was 314,000, a daily decrease of 2,585 lots, and the reduction of London copper oscillation, showing that with the high price of copper, more active profit taking
.
In terms of the market, on April 19, Shanghai electrolytic copper spot traded at 270 yuan / ton - 350 yuan / ton for the monthly contract, and the trading price of flat water copper was 51780 yuan / ton - 51900 yuan / ton
.
Overnight, Shanghai copper rose by nearly 1,000 yuan, and the old trick of the early market opening holders repeated, madly rising to more than 350 yuan / ton, but the futures rose together, the transaction was seriously suppressed, and the quotation showed a downward trend
.
At the end of the first trading session, the premium was 280-330 yuan / ton, and around 11 o'clock, it has dropped to 270-310 yuan / ton
.
The intraday market is more cautious of heights, the transaction is far less than the previous two days, the premium rose to more than 300 yuan / ton, the market's willingness to accept follow-up is declining, coupled with the rise of the market, downstream and traders' enthusiasm for entering the market are seriously frustrated
.
On the macro front, the Asian dollar index oscillated slightly and is now trading around 89.
56, falling into the intersection of moving
averages.
Sino-US trade frictions continue to escalate, and China will litigate
the United States in accordance with WTO dispute settlement procedures.
The market focused on U.
S.
jobless claims last week
.
In terms of industry, data released by the World Bureau of Metal Statistics showed that the global copper market supply shortage was 10,000 tons in January-February 2018, and 263,000 tons in 2017.
During the day, the Shanghai copper 1806 contract opened higher and oscillated to 51940 yuan / ton, following the London copper oscillation strengthened
.
At present, the copper price is running above the moving average group, and the Sino-US trade dispute has been repeated from time to time, and investors still need to be cautious
in operation.
In operation, it is recommended that the Shanghai copper 1806 contract can be sold high and low between 51500-52500 yuan / ton, and the stop loss is 350 yuan / ton
each.
