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On Tuesday, the Shanghai copper 1904 contract was affected by the external market at the beginning of the session, the price was slightly lowered, after the short-term low of 49180 yuan / ton, the bulls entered the market, copper prices slowly fluctuated and rebounded, broke through the daily average at noon, probed the height of 49410 yuan / ton, the center of gravity at the end of the session basically around the daily average of 49330 yuan a narrow range, and finally reported at 49360 yuan / ton, up 550 yuan / ton, up 1.
13%.
In terms of external trading, during the Asian session, London copper opened at 6259.
5 US dollars / ton, quickly tested low to 6242 US dollars / ton at the beginning of the session, after the short-term touched the low, the center of gravity of copper prices rebounded and broke through the daily moving average, up to 6274 US dollars / ton, but failed to maintain stability at a high level, the price returned to the daily average near 6256 US dollars / ton at the end of the Asian session, and entered the US market after a narrow finishing, affected by the fall of the US index, copper prices performed strongly upward, and the center of gravity quickly rose to around 6284 US dollars / ton, during the period to test 6288.
5 US dollars / ton, After the shock closed, copper prices fell straight down below the daily moving average, and as of 17:30, London copper was reported at $6256.
5 / ton
.
On the macro front, Fed official Williams said he was satisfied with the current level of interest rates, needed new prospects to raise rates, stopped shrinking the balance sheet when bank reserves fell to $1 trillion, the dollar fell back in the short term, and metal prices continued to rebound
.
Copper for March on the London Metal Exchange rose 1.
13% to $6332.
0 a tonne
.
Domestically, Liu He was invited to the United States to hold the seventh round of high-level economic and trade consultations between China and the United States on February 21 and 22, and continued to follow the progress of the
negotiations.
In the market, Shanghai copper maintained a strong rise, regaining its footing above
49,000 yuan / ton.
Lantern Festival market festive atmosphere is strong, the rise in the market continues to inhibit buying, the morning market quotation discount 150 ~ discount 50 yuan / ton, the transaction is more wait-and-see, some traders for cash initiative to reduce the quotation, flat water copper adjustment to discount 180 ~ discount 170 yuan / ton or so, the transaction has improved, good copper adjustment to discount 80 ~ 70 yuan / ton to attract some traders to buy, downstream receiving goods continue to wait and see is weak, the transaction has been suppressed, wet copper quotation as low as 320 yuan / ton
。 The rise in copper prices has not stopped, spot is difficult to follow up immediately, the inventory of major traders in the market is not low, the pressure of funds is also large, the market is facing the game between long and short, between supply and demand, and the contradiction of funds
.
The main contract of Shanghai copper jumped high during the day, reported the Yang line, and successfully stood above the upper Bollinger band, and the opening of the Bollinger curve was greatly expanded, forming a strong support for the technical surface
.
Wait for the guidance of the external disk to test whether the main force of Shanghai copper can break through the 49,500 yuan / ton position
.
