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Overnight, the main 1703 contract of Shanghai copper opened at 45650 yuan / ton
.
At the beginning of the session, there were still a small number of bulls to increase their positions, copper prices touched 45760 yuan / ton, then the bears attacked copper prices back to the daily moving average near the daily average, bulls were unable to resist and abandoned their positions and fled, Shanghai copper pierced the 5 moving average downward, tested down 45070 yuan / ton, the end of the low stabilized, closed at 45240 yuan / ton, down 330 yuan / ton, the trading volume decreased 118,000 hands to 95210 lots, and the position decreased 3178 hands to 188964 lots
.
Overnight Shanghai copper high pullback, the volume of positions decreased, but the lower 5-day moving average is still supported, it is expected to operate in today's range of 45000~45700 yuan / ton
.
In terms of market: on December 29, Shanghai electrolytic copper spot reported a discount of 250 yuan / ton - 180 yuan / ton for the current month's contract, and the transaction price of flat water copper was 44980-45150 yuan / ton
.
At the end of the year, the market basically entered a state of rest, some enterprises shipped a small amount, the brand price difference was obvious, the quotation was more disordered, the supply was acceptable, the downstream continued sporadic rigid need to enter the market, so that some suppliers' quotations were relatively firm, the flat water copper discount was significantly narrower than yesterday, the willingness of holders to exchange cash became weaker, and the transaction was quiet
.
Inventories: As of December 23, Shanghai copper stocks in the previous period were reported at 134377 tons, down 9,649 tons weekly, the third decrease in the past four weeks, indicating a decline
in short-term domestic inventory pressure.
Overnight, the main oscillation of Shanghai copper fell slightly to 45240 yuan / ton, due to the lack of focus in the short-term market, and copper prices fell into the interweaving of moving averages, and the oscillation pattern remained unchanged
.
It is recommended that the Shanghai copper 1703 contract can sell high and low between 44800-45800 yuan / ton, and the stop loss is 500 yuan / ton
each.
