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This week's Shanghai copper index rose sharply, Monday and Tuesday prices at a high narrow range, Wednesday late black suddenly rose, driving copper prices up sharply, to Friday overnight once rose to 47950 yuan, but since then bulls slightly reduced their positions, the price fell
slightly.
The last close was 47,720 yuan, up 890 yuan, or 1.
90%, and the weekly position of the index increased by 61,972 lots to 617,000 lots
.
This week's LME March copper rose unilaterally, copper prices fell slightly on Monday, prices began to rise along the 5-day moving average on Tuesday, the price fell from a high of $5,965 on Thursday evening, and the price closed at a high on Friday, closing at $5,948 during the domestic trading session, up $148, or 2.
55%.
In terms of the market, on the last trading day at the end of the month, copper prices pulled back in the morning, and the downstream was slightly replenished before the weekend, but some companies entered the mid-year liquidation, the quotations of holders decreased during the day, and the downstream on-demand purchase was mainly small, the trading was slightly light, and the transaction was not good
.
Wet copper C180-C170 yuan / ton, flat water copper C130-C120 yuan / ton, good copper C100-C90 yuan / ton
.
In terms of news, China's official manufacturing data for June exceeded expectations, in addition to the shutdown of Jinchuan company's copper smelter for maintenance, coupled with the impact of the strike, the tight supply side or support copper prices continued to rise, but Shanghai copper showed a narrow range of high volatility on Friday morning, the overall price fell slightly, and the position decreased by more than 10,000 lots, or due to the next July-August consumption off-season effect limited the height of the
rebound.
From a technical point of view, the KDJ gold cross diverged on the week k, the MACD dead cross turned around, and the price broke through the 20-week moving average this week; On the day K, MACD gold cross on the 0 axis, KDJ gold cross high pullback, the price along the BOLL upper band, short-term or will continue to maintain a strong operation
.
