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On Wednesday, the main force of Shanghai copper opened at 47720 yuan / ton in the morning, and the copper price fell briefly after the opening, exploring the intraday low of 47650 yuan / ton, and then the short flat multi-entry plate oscillated higher, once climbing to the intraday high of 47920 yuan / ton, at this time the bulls took profits and left the market, and the copper price fell back to close at 47780 yuan / ton
before noon.
At the opening of the afternoon, copper prices rebounded upward, and the center of gravity stabilized at 47830 yuan / ton
.
Near the end of the day, long and short left the market one after another, copper prices finally closed at 47860 yuan / ton, up 220 yuan / ton, or 0.
46%.
At present, Shanghai copper still maintains a back structure, and the 07-08 contract price difference is about
140 yuan / ton.
The center of gravity of Shanghai copper rose during the day, mainly due to the impact
of international oil price linkage.
Affected by the further improvement of the contradiction between supply and demand of crude oil, U.
S.
oil and crude oil rose, and macro sentiment was optimistic
.
Coupled with the continued easing of the global macroeconomic environment, market risk appetite has recovered, helping copper prices rise
.
From a fundamental point of view, domestic inventories continue to decline
.
It is understood that the social stock on Wednesday fell by 17,900 tons to 162,000 tons
.
Copper supply continues to be tight, and domestic demand can also support the high operation of copper prices
.
Shanghai copper closed negative during the day, KDJ opening continued to expand upward, and there are still multiple moving averages below support
.
Wait for the guidance of the external market, test whether Shanghai copper can continue to rise, sprint to the 48000 mark
.
