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On Tuesday, the main contract of Shanghai copper 1805 continued to rebound, trading at 51350-50520 yuan / ton during the day, and closing up to 50950 yuan / ton at the end of the day, up 1.
23% per day, which has risen for two consecutive days, showing its strong
willingness to rise.
However, at present, copper prices are still running at the intersection of the main moving averages, and they are facing multiple moving average suppression
above.
In terms of term structure, the positive price difference between the Shanghai copper 1805 contract and the 1806 contract widened to 220 yuan / ton
.
In the external market, Asia Lun copper rushed back down, including the three-month LME copper at 6894 US dollars / ton, up 0.
59% per day, hitting a high since March 19 this year, and up 5.
54%
from the low of 6532 US dollars / ton in this round of correction.
In terms of positions, on April 9, the position of London copper was 308,000, an increase of 1,587 hands per day, and the increase in the position of London copper rose, indicating that after the copper price fell, the divergence between long and short increased, and the bulls actively went long
on the dip.
On the macro front, the Asian dollar index retreated and is now trading around 89.
86, indicating heavier
topside selling pressure.
Pay attention to 20:30 US March PPI, Canada February construction permit
.
In terms of industry, as of April 10, London copper stocks decreased by 2,650 tons to 369525 tons, a decline of seven consecutive days, and the cumulative decrease was 18,650 tons, indicating that the supply pressure in the copper market has declined
.
In terms of the market, on April 10, Shanghai electrolytic copper spot reported a premium of 30 yuan / ton - 90 yuan / ton for the monthly contract, and the transaction price of flat water copper was 51,000 yuan / ton - 51,100 yuan / ton
.
Shanghai copper vigorous, rebounded to above 51,000 yuan / ton, the plate rushed up more than 600 yuan / ton, the market receiving sentiment decreased significantly, due to the serious lack of shipments, the holder took the initiative to reduce the quotation to 40-80 yuan / ton range before the transaction was reflected
.
In the second trading session, due to the stagnation of downstream pick-ups, the quotation continued to be lowered to 30-70 yuan / ton
.
After 11 o'clock, traders eager to exchange cash have already quoted a premium of 20 yuan / ton of flat water copper, and the buying interest is obviously not as good as yesterday.
During the day, the Shanghai copper 1805 contract oscillated to 50950 yuan / ton, partly boosted by technical rebound demand, but the current copper price is still running below the main moving average group, and the Sino-US trade dispute has been repeated from time to time, investors still need to be cautious
.
In terms of operation, it is recommended that the Shanghai copper 1806 contract can be sold high and low between 50600-51500 yuan / ton, and the stop loss is 350 yuan / ton
each.
