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Overnight, the Shanghai copper 1702 contract opened at 45180 yuan / ton
.
At the beginning of the session, after the daily moving average oscillation, some bulls increased their positions, Shanghai copper touched 45330 yuan / ton, bears took the opportunity to buy at a high level, leading copper prices to fall to the daily moving average, down to 44910 yuan / ton, the end of the low stabilized to close at 45010 yuan / ton, down 130 yuan / ton, the trading volume decreased by 104,000 hands to 53762 lots, and the position decreased by 134 hands to 199302 lots
.
Overnight Shanghai copper rushed back down, intraday liquidity easing boost effect disappeared in the night session, bulk returned to weakness, Shanghai copper 45000 slightly deadlocked, is expected to operate in today's range of 44900 ~ 45350 yuan / ton
.
In terms of market: on December 21, Shanghai electrolytic copper spot traded at a discount of 250-130 yuan / ton for the contract of the month, and the transaction price of flat water copper was 44820-45050 yuan / ton
.
Shanghai copper stopped falling and rebounded, attracting some downstream bargain hunters to buy goods, narrowing the discount range
of copper to a certain extent.
Holders still have the willingness to exchange cash, but subject to the lack of speculative buying at the end of the year, it is difficult to reduce prices, and the number of closing companies is increasing, so the strength of dumping is gradually weakened, and the market is once again in a state
of supply and demand tug-of-war.
It is expected that the light market will continue
at the end of the year.
Stocks: As of December 16, Shanghai copper stocks in the previous period reported 144026 tons, a weekly increase of 12,076, the first increase in three weeks, indicating that short-term domestic inventory pressure has increased
.
The main oscillation of Shanghai copper overnight sorted out to 45,010 yuan / ton, as the dollar index remained running at a high level and concerns about tightening funds at the end of the year have not been lifted
.
It is recommended that short-term copper market operations take a bearish idea
.
The Shanghai copper 1702 contract can be backed by a short high below 46,100 yuan, and the entry reference is around 45,500 yuan, with a target of 44,000 yuan
.
