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    Home > Chemicals Industry > New Chemical Materials > Copper prices fall under pressure The short-term rally may end

    Copper prices fall under pressure The short-term rally may end

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    On Tuesday, the main force of Shanghai copper fell back to the 1707 month high
    .
    Copper prices fell slightly in early trading, and then hit the intraday high of 46130 yuan, after which the price fell under pressure, once approaching the overnight low nearby, the price rebounded slightly before midday, and the price continued to fall in the afternoon, falling to a minimum of 45760 yuan before the close, and closing at 45770 yuan, down 40 yuan, or -0.
    09%.

    Copper prices

    In terms of external trading, LME March copper opened low and low, opened at $5715.
    5 in the morning, dipped after a narrow range, the price once fell to $5688, then fluctuated in a narrow range, the price continued to fall in the afternoon, the lowest was $5666, the Asian market closed slightly before the close, the domestic trading session closed at $5673.
    5, down $44.
    5, down -0.
    78%.

    In the market, on Tuesday, the spot copper price was quoted at 45760-45850 yuan / ton, compared with yesterday's increase of 55 yuan / ton, the current spot copper premium quotation C110-C30 yuan / ton
    .
    The copper spot price index was at 45,827.
    05, up 49.
    05 points
    from the previous session.
    In the morning mainstream trading session, the market trading is general, the market circulation supply is more, the holders are active in price shipments, the high copper price stabilizes the downstream procurement demand slightly, and the low-price source transaction is more ideal
    .
    Liter discount c130-c40 yuan / ton, including good copper C50-c40 yuan / ton, flat water copper C80-c70 yuan / ton, wet copper C130-c120 yuan / ton
    .

    In terms of news, the Manchester explosion in the morning weakened market sentiment, the copper market rushed to the high already weak, and the 100 shares of A-shares fell to the limit at the end of the day, driving the market sentiment to decline further, especially driven by the flash crash of the iron ore tail, many varieties fell sharply, and the copper market also fell back to the
    red market.

    From the futures plate point of view, Shanghai copper before 46,000 yuan there is a downward gap short-term pressure is too large, at the same time here is also the descending flag descending trend line position, short-term rebound may face the termination, the current KDJ, MACD double golden cross, copper market is still in the bullish trend, it is expected that there is still a possibility of rushing higher, continue to pay attention to downstream procurement
    .

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