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    Home > Chemicals Industry > New Chemical Materials > Copper prices rebound and pull up The lower space is limited under the expectation of peak season

    Copper prices rebound and pull up The lower space is limited under the expectation of peak season

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
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    On Thursday, the Shanghai copper 1610 contract opened at 37200 yuan / ton
    .
    After the opening, the bulls increased their positions sharply, copper prices retraced the daily moving average after pulling back, and then reduced their positions and pulled back, falling back below the 5-day line, stimulated by the surge in crude oil and the weak US dollar in the afternoon, Shanghai copper bulls opened a counteroffensive, and the 1610 contract finally closed at 37370 yuan / ton, up 90 yuan / ton
    .
    Intraday Shanghai copper low rebounded, gradually tested the 10-day line pressure, the price center of gravity slowly rising, the market is still illiquid, there are more spectators outside the market, but the lower space is limited
    under the peak season expectations.

    Copper prices

    In terms of external trading, London copper opened at 4784.
    5 US dollars / ton, during the Asian session, London copper slightly downward and then supported by the weakening of the US dollar to open the upside, standing on the daily average after several touches are effectively supported, driven by the surge in crude oil in the afternoon, London copper opened the second wave of high trend; Entering the European session, London copper continued to fluctuate higher, want to test again $4850, the 40-day line is under pressure adjustment, as of 18:00, London copper reported 4838.
    5 US dollars / ton, up 1.
    33%.

    In terms of the market, Shanghai copper rebounded slightly, this time the delivery volume was large, the delivery source gradually flowed out, the willingness of holders to exchange goods was strong, and the spot premium was stable and slightly fell
    .
    Most of the good copper in the morning price is 20 yuan / ton for Guixi copper, while the other three good copper brands, flat water copper newspaper discount 40-discount 20 yuan / ton, complete
    varieties.
    After 9:30, the rise of the market does not change the shipper shipment mentality, the center of gravity of the premium water is moved down, good copper newspaper flat water - 10 yuan / ton of water, flat water copper report discount 60 - discount 30 yuan / ton
    .
    Transactions on Thursday were generally light, and downstream remained on the sidelines, waiting for more deliveries to flow in and expand the range of options for low-discount copper
    .
    In the afternoon, copper prices rose again, and the copper quotation was discounted 60-liter 10 yuan / ton, and the transaction price was 37120-37250 yuan / ton, the market wait-and-see sentiment was heavier, and the inquiry was scarce and the transaction was few
    .
    Technically, short-term copper prices are in adjustment, focusing on the effectiveness of copper price resistance levels, LME at $4800-4840, domestic 37300-37600 yuan
    .

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