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    Home > Chemicals Industry > New Chemical Materials > February 16 Copper Market Morning Review

    February 16 Copper Market Morning Review

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Yesterday, the outer copper market opened at 6026.
    5 US dollars / ton, the Asian session in the short closing market driven by the promotion, copper price center of gravity moved up to 6057 US dollars / ton running, intraday high to 6074 US dollars / ton, but subject to the pressure of the upper Bollinger Road rail can not continue to rebound, in the afternoon with the strengthening of the US dollar index, copper prices pullback, the low broke through the daily moving average, the low recorded 6013 US dollars / ton, and then under the support of the 5-day moving average V-shaped rebound to the daily average of 6040 US dollars / ton consolidation, In the evening, the US CPI hit a four-year high in January, and the Fed's interest rate hike expectations strengthened, pushing the dollar higher to a high of 101.
    76, and London copper weakened, testing as low as $5992 / ton, and then returning above the daily average with the weakening of the dollar, consolidating around $6055 / ton at the end of the day, closing at $6053 / ton at a small white line
    .

    Copper City

    Overnight, under the influence of the strengthening of the US dollar, the main 1704 contract of Shanghai copper opened low at 48740 yuan / ton, after the opening of the long and short scramble, copper prices in the daily average of 48750 yuan / ton stalemate, and then driven by the external market, Shanghai copper bulls have increased their positions, copper prices up and down gradually away from the daily moving average, the high touched 49170 yuan / ton, subject to the 5-day moving average continued to rise weakly, with 49020 yuan / ton closed at the small white line, down 100 yuan / ton, Increase positions by 7,558 lots to 237,000 lots, trading volume decreased by 350,000 lots to 163,000 lots, overnight Shanghai copper low open back to the 5-day moving average operation, long and short have increased positions, is expected to continue to operate against the 5-day moving average today, the range of 48,700 yuan / ton -49250 yuan / ton
    .

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