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On Friday, the main 1704 contract of Shanghai copper opened at 47420 yuan / ton, after the opening because the US dollar has risen to around 100.
8, the bulls have a sharp outflow, copper prices short-term low to around 47130 yuan / ton, and then a small number of short orders profit-taking, copper prices slowly rebounded, reverse the daily moving average, In the afternoon, the black series due to the fixed investment target of 1.
5 trillion yuan proposed by the Xinjiang government, the black series caught the positive signal after soaring, iron ore and so on once touched the price limit, Shanghai copper bulls have increased their positions in, all the way up copper prices to 48050 yuan / ton, at the integer mark position, bulls exit the bag for safety, Shanghai copper closed at 47820 yuan / ton at the small Yang line, up 140 yuan / ton
.
Intraday Shanghai copper rose driven by black, and Shanghai copper maintained an upward trend
in the evening due to the rise of the external market.
In terms of the external market, London copper opened at 5837.
5 US dollars / ton, the Asian session long and short game, copper prices around 5828 US dollars / ton consolidated, intraday back to the Bollinger Road middle rail, recorded a low of 5810 US dollars / ton after recording, some bears took profits, copper prices rebounded, in the afternoon due to the Xinjiang government's fixed investment target of 1.
5 trillion yuan, the black series captured the positive signal after soaring, iron ore and so on once touched the price limit, driving non-ferrous metals to rise across the board, London copper straight up, at $5900 / Temporary adjustment around tons, the IEA monthly report during the European session announced that the implementation rate of OPEC countries' production cuts reached 90%, a record record, crude oil soared to 53.
5 US dollars / barrel, London copper accelerated upward, touched 5940 US dollars / ton, as of 17:50, London copper reported 5926 US dollars / ton
.
Driven by the surrounding market, Lun copper soared, paying attention to the news and continuation of the Chilean copper mine strike and shutdown, and it is expected that London copper will still have a strong trend and approach
the upper rail of Bollinger Road.
In terms of the market, Shanghai copper fell slightly, the basis of the next month further expanded to more than 250 yuan / ton, and the other holders narrowed the discount quotation, good copper favored by speculators, the discount narrowed all the way, near noon appeared flat water quotation, and the supply is limited, flat water copper discount passively narrowed, wet copper still maintains a large price difference with flat water copper, speculators continue to buy cash selling period operation, downstream demand, the overall transaction is dominated by middlemen, and the transaction between brands is quite
different 。 In the afternoon session, the market rose, but the basis of the next month did not narrow, traders continued to enter the market to absorb good copper sources, good copper has been reported 10 yuan / ton, but the actual transaction in the discount of 30 yuan / ton - flat water, flat water copper followed, the discount slightly narrowed to 60 yuan / ton - 30 yuan / ton, the transaction price of 47030 yuan / ton - 47400 yuan / ton
.
Next week enters the delivery week of the month, and good copper is expected to have a premium quotation
.
In terms of industry, according to union personnel interviewed, BHP's Escondida copper miners plan to strike for two months, and if it is true, it is expected to affect copper production by 178,000 tons
.
In addition, Minmetals Resources' Las Bambas copper mine in Peru has also been threatened, and demonstrators near the mine have blocked the second road
to enter the mine since June 6.
The Las Bambas copper mine was previously expected to produce 250,000-300,000 tonnes
of copper.
From a technical point of view, copper prices rebounded, short-term attention to copper prices once again test the performance of the volatility range resistance line since November last year, trading is mainly
looking for good buying opportunities.
