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Trade Service
The overnight Shanghai copper 2003 contract closed at 48,970 yuan / ton, up 0.
33%, with a volume of 43,000 lots, and long positions increased by 3,489 lots to 126,000 lots
.
Copper prices rebounded last night, mainly because the Iranian air strike in the early hours of Wednesday morning did not cause casualties, and all parties began to seek to ease the situation in the Middle East, the market risk aversion weakened, and the gold price fell nearly $50, which was good for the copper price rebound
.
At present, the ADP report shows that the number of new jobs in US companies is the highest since April, which brings better expectations for the non-farm payrolls data released on Friday; The possibility of a direct confrontation between the United States and Iran has decreased, which is positive for copper prices in the short term
.
At present, Shanghai copper is closing in the sun, and the Bollinger middle rail support
is stored below.
In terms of spot, yesterday's market stalemate continued, quotations were lowered, intraday market prices rebounded, it is expected that the market buying sentiment will be more depressed, and holders will continue to lower quotations
for shipments.
It is expected that the Shanghai copper will be 48900-49200 yuan / ton within the day, and the spot flat water - premium water will be 40 yuan / ton
.