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    Home > Chemicals Industry > New Chemical Materials > Copper prices broke through the volatile pattern and the center of gravity of the disk moved upward

    Copper prices broke through the volatile pattern and the center of gravity of the disk moved upward

    • Last Update: 2022-12-12
    • Source: Internet
    • Author: User
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    On Thursday, the Shanghai copper main 1811 contract opened at 48340 yuan / ton in the morning, and the short position was reduced at the beginning of the session, and the copper price rose slightly to 48550 yuan / ton was blocked, and the center of gravity shifted downward, fluctuating
    in a narrow range around 48440 yuan / ton.
    In the afternoon, 48,500 yuan a line of short more out of the market plus short wipe short, copper prices fell slightly, once tested down 48290 yuan / ton, the external market rose again, boosting bulls to enter the low, copper prices went up another level, touched 48660 yuan / ton, the end of the day along 48600 yuan / ton narrow finishing, closed at 48620 yuan / ton, up 1060 yuan / ton, up 2.
    23%.

    Copper prices

    In terms of external trading, London copper opened at 5999.
    5 US dollars / ton, at the beginning of the session, London copper fluctuated in a narrow range along 6005 US dollars / ton, and the integer of 6000 US dollars / ton was slightly hesitant, during the period of testing the lowest intraday 5986 US dollars / ton
    .
    In the afternoon, London copper bargain again began a sharp upward trend, the highest of the day was 6055.
    5 US dollars / ton, entering the European trading session, London copper fluctuated
    in a narrow range around 6045 US dollars / ton.
    As of 17:30, London copper was trading at $6051.
    66 / ton
    .
    The US dollar index fluctuated in a narrow range along the daily moving average today, and London copper has jumped high overnight, and went up another layer during the day, breaking through the 20-day moving average, and the high pointed to the 40-day moving average, testing whether London copper can stand on the $6,000 / ton mark
    in the evening.

    In the market, metals generally rose overnight, and copper prices jumped to a narrow range around 48,600 yuan / ton in the morning
    .
    Copper futures rose, traders showed caution, holders had a strong willingness to exchange cash, all had the willingness to reduce shipments, and the quotation was reduced to a discount of 20 yuan / ton ~ 20 yuan / ton, but the buying interest was still insufficient
    .
    In the second trading stage, in the atmosphere of traders receiving goods at a low price, good copper is quoted to flat water
    .
    The high copper rebound in the futures made the downstream afraid of heights, limited market entry, the transaction was concentrated on traders to receive goods at low prices, and the expansion of discounts remained attractive to speculative traders, and some traders received goods to complete monthly long orders
    .
    In the afternoon, the center of gravity moved upward, close to delivery, the import profit window continued to open for about a week, the supply was abundant, and traders favored horizontal water copper and good copper
    .

    In terms of news, the number of JOLTS job vacancies in the United States in July was 6.
    939 million, the highest since data began in December 2000, and 6.
    675 million was expected, and the previous value was revised from 6.
    662 million to ©6.
    822 million
    .
    Chile's copper production from January to July this year reached 3.
    31 million tons, up 10.
    8%
    from the same period last year, according to the Chilean Copper Commission (Cochilco).

    Intraday Shanghai copper gap high, in one fell swoop to get rid of the previous low shock tug-of-war pattern, the bottom up, based on the 10-day moving average, breaking through the 20-day moving average, the high pointed to the 40-day moving average
    .
    Pay attention to the performance of long and short positions, pay attention to whether the bulls can take advantage of the victory and chase, and test the 40-day moving average again
    .

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