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Overnight, the Shanghai copper 1702 contract opened lower at 47460 yuan / ton
.
After a slight fluctuation at the beginning of the session to test the low of 47330 yuan / ton, the bulls bought at a low level, Shanghai copper upward broke through the 10-day moving average, after a tug-of-war near the daily moving average, the bulls once again exerted force, the evening copper high touched 48110 yuan / ton, the late correction closed at 47810 yuan / ton, down 140 yuan / ton, the trading volume decreased by 236,000 hands to 129712 lots, and the position increased by 4686 hands to 259446 lots
。 The central price of RMB rose by 295 points to 6.
8575 overnight, the highest in three weeks, and the internal copper price was contained, but the night bulls made a comeback, and it is expected that the Shanghai copper operating range within the day is 47300~47950 yuan / ton
.
Market: On December 6, Shanghai electrolytic copper spot reported a discount of 60 yuan / ton - 10 yuan / ton of water premium, and the transaction price of flat water copper was 47400-47700 yuan / ton
.
The quotation of copper is firm, and the supply of good copper and cost-effective flat water copper is small, so that the quotation of this part of the current copper climbs to a discount of 30-10 yuan / ton
.
Wet copper is still flooding the market, and the discount quotation is not collected and expanded, and the discount is reported to be 200-170 yuan / ton
.
There was no large-scale chasing sentiment
downstream.
Holders still hold more confidence in the future market, and the premium state of copper quotations may still rise slightly
.
Stocks: As of December 2, Shanghai copper stocks in the previous period reported 135363 tons, a sharp decrease of 8,700 tons per week, the first reduction in four weeks, indicating a slight decline in short-term domestic inventory pressure
.
Overnight, the main force of Shanghai copper fell slightly to 47810 yuan / ton, partly suppressed by the profit taking of bulls, but the decline of copper was limited, and technically it was still effectively stabilized above the moving average group, copper prices still continued the recent upward trend, and the intrinsic willingness to fall was weak
.
It is recommended that the Shanghai copper 1702 contract can be backed above 47100 yuan to bargain long, the entry reference is around 47600 yuan, and the target is 48500 yuan
.
