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February 5 Shanghai copper morning review

 Last Update: 2022-12-08
 Source: Internet
 Author: User

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Overnight, the main force of Shanghai copper 1804 opened low at 53390 yuan / ton, continued to decline during the session, low to 82890 yuan / ton, closed at 53110 yuan / ton, down 280 yuan / ton, warehouse increased 5770 to 202950 lots
.

Shanghai copper

In terms of the market, as of 2018-2-2, the spot price of SMM 1# electrolytic copper is 52830 yuan / ton, down 390 yuan / ton from the previous week, 50 yuan / ton discount compared with the near-month contract, the discount gradually narrowed during the week, the downstream market to buy wet copper, this week for delivery, traders follow the trend into the market speculation, favor good copper, leading the price trend
.
The market performance of bargain hunting and big discount market inquiry is actively buying and stable
.

In terms of news, the positive non-farm payrolls data stimulated the dollar to the upside, but in the long run, the weak dollar may be larger, and the long-term bullish copper price trend
.
Domestic Greendahua has a large number of forward contracts, the forward arrangement has not changed, spot consumption may slightly drag down copper prices in the short term, but it is expected that the depth is limited, 52500-53000 yuan / ton below the strong support position
.

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