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On Tuesday, the main 1709 month contract of Shanghai copper maintained a narrow range after the open, and in the second trading session in the morning, the price quickly pulled up to around 48,500 yuan for a slight adjustment, and the copper price rose again in the afternoon, with a maximum of 48,690 yuan
.
It closed at 48,560 yuan, up 670 yuan, or 1.
40%, and index holdings increased sharply by 38,172 lots to 647,000 lots
.
In terms of external trading, LME copper fell slightly to around $6025.
5 after the opening in March, and the price rebounded after the Asian market opened, and the price rushed to $6100 after coming under pressure, fell slightly back to $6080, and then rose again to a maximum of $6130, and the final price closed at $6115, up $81.
5, or 1.
35%.
In terms of the market, the market trading in the morning mainstream trading session is general, the morning copper rose sharply, intraday holders actively quoted but relatively reluctant to sell, the price was firmer, the premium continued to narrow, but the downstream cautious wait-and-see, on-demand procurement, the transaction is general, the overall supply and demand pattern
.
In terms of news, the recent US dollar index in the US president's Russiagate incident continues to ferment, sharply lower to support the trend of the non-ferrous metal sector, while China's June refined copper imports rose from May, easing the domestic market's concerns about the decline in demand, the morning black series continued to rebound and rise, driven by the nickel market due to environmental reasons, copper market long capital positions increased by more than 10,000 lots, copper prices rose sharply
.
From the perspective of futures, Shanghai copper closed the 5-day moving average on the Zhongyang Line within the day, MACD and KDJ were once again golden crosses and opened divergence, it is expected that short-term copper prices still have momentum to rise, continue to pay attention to downstream procurement
.
