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Overnight, London copper opened at 7081.
5 US dollars / ton, Europe and the United States began to rebound, the high to 7144.
5 US dollars / ton, closed at 7135 US dollars / ton, up 58.
5 US dollars / ton, the transaction increased by 457 to 9220, and the position decreased by 5405 to 320,000 lots
.
In terms of the market, as of February 14, the spot price of London copper was $7,027/ton, a discount of $42.
25/ton over the March contract; The actual ratio of Shanghai copper spot to London copper spot was 7.
49 (import ratio was 7.
52), and the import loss was 195 yuan / ton; The actual ratio of the Shanghai Copper Lian-3 contract to the London copper March contract was 7.
57 (the import ratio was 7.
52), and the import profit was 331 yuan / ton
.
On the news front, the Fed minutes said that the strengthening of the economy increases the possibility of future interest rate hikes, and the probability of a rate hike in March is very high
.
In addition, the issuance of Tianliang U.
S.
bonds, the five-year U.
S.
Treasury winning yield hit the highest
in more than eight years.
Institutions believe commodities tend to perform well
late in the economic cycle.
London copper's three-day pullback touched the Bollinger mid-band, and the rebound is obvious, but we need to be wary of the recent strength of the US dollar
.
It is expected that today's London copper range is 7050~7160 US dollars / ton
.
