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Today's Shanghai copper first suppressed and then rose, continued the overnight correction during the day, the price rebounded slightly after midday to stabilize, and the main 2202 contract of Shanghai copper closed at 70200 as of the day, down 130, or 0.
18%.
Shanghai copper has entered the traditional consumption off-season, near the end of the year downstream start and demand reduction, generally clearance is the mainstay, on the demand side copper price to bring certain pressure, but on the other hand, the global copper is still in a low inventory state, supply concerns to maintain the high copper price to form a support
.
At present, the copper market is mainly affected by the US index and the surrounding market into a volatile market, technically pay attention to the main force of Shanghai copper 6.
95-70,000 first-line support effect, is expected to maintain a high range volatility market in the near future, night trading may have a slight stability, around the support line to do a narrow range of
shock.
In terms of operation, the merchants are mainly wait-and-see, and the downstream demand just needs to be taken before the year, and the demand is temporarily waiting
after the year.
