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On Wednesday, the main 1805 month contract of Shanghai copper opened slightly back to 51890 yuan in the morning, and then fluctuated, copper prices rose with market sentiment in the afternoon, and came under pressure after rushing up to 52480 yuan in the afternoon, closing at 52330 yuan, up 400 yuan, or 0.
77%.
Index holdings decreased by 8,776 contracts to 876,000
.
Externally, LME copper opened slightly lower at $6,925 in March, then the price soared higher, rising to a high of $7,010.
5 in the afternoon, and fell back under pressure later, closing at $6,984, up $31.
5, or 0.
45%.
In terms of the market, the spot copper price of Shanghai Nonferrous Metals Trading Center (SME) was reported at 51390-51530 yuan / ton, up 160 yuan / ton from the previous trading day, the spot discount was reported to C70-B70 yuan / ton, the discount continued to narrow near delivery, the market favored flat water copper, the quotation was firm and turned into premium, the market liquid supply was more abundant, the monthly difference was rougher than the middleman arbitrage transaction, and the overall trading of the market was generally not as good as the previous day
.
In terms of stocks, COMEX copper stocks 233419 short tons as of March 13, an increase of 47 tons from March 12; LME copper stocks were 321475 tonnes, up 350 tonnes from March 12; As of March 14, SSE futures inventories were 128356 tons, an increase of 18,121 tons
from the previous day.
In terms of industry, data from the National Bureau of Statistics shows that new industries and new products are growing rapidly, and the industrial structure continues to be optimized
.
From January to February, the added value of high-tech industries and equipment manufacturing industries increased by 11.
9% and 8.
4% year-on-year, respectively, 4.
7 and 1.
2 percentage points
faster than those above designated size.
The production of new energy vehicles increased by 178.
1% year-on-year, integrated circuits increased by 33.
3%, and industrial robots increased by 25.
1%.
The production and sales rate of industrial enterprises above designated size reached 97.
9%.
In terms of news, the National Bureau of Statistics announced that the added value of China's industries above designated size in January and February increased by 7.
2% year-on-year, higher than the median estimate of 6.
1% in the survey.
In the future, with the arrival of the downstream peak season, copper demand will continue to be active, inventory pressure will gradually decrease, copper prices are expected to stabilize and rebound, and copper prices may maintain a wide range of volatility in the short term
.
From the perspective of futures, Shanghai copper main MACD dead cross, KDJ gold cross, the price returned to the short-term moving average, pay attention to the downward trend line pressure at 52800 yuan above, short-term prices may have repeated
.
