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    Home > Chemicals Industry > New Chemical Materials > July 11 Shanghai copper brief commentary

    July 11 Shanghai copper brief commentary

    • Last Update: 2022-12-11
    • Source: Internet
    • Author: User
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    After the close of Europe and the United States, the US official once again introduced a list of 200 billion taxes, and the market risk aversion was instantly ignited, and London copper plummeted by $200 / ton
    .
    Today's Shanghai copper main 1809 contract followed the outer market gap to open low at 48890 yuan / ton, after the open, a large number of bears poured in, copper prices plummeted to 47800 yuan / ton, after a short consolidation, slightly recovered to 48450 yuan / ton
    .
    At noon, short positions were replenished, copper prices continued to fluctuate downward, touching a one-year low of 47520 yuan / ton, at the end of the session, the short part of the profit exited, copper prices rose slightly, closing at 48140 yuan / ton, down 1660 yuan / ton
    .
    Positions increased by 15,000 lots to 204,000 lots, and trading volumes jumped by 332,000 lots to 541,000 lots
    .

    Shanghai copper

    Macro news: The Trump administration released a list
    of 10 percent import tariffs on $200 billion worth of Chinese goods on Tuesday.
    Spokesperson of the Ministry of Commerce: It is completely unacceptable for the US to publish the list of taxes in an accelerated manner, and we solemnly protest
    this.
    In order to safeguard the core interests of the country and the fundamental interests of the people, the Chinese government will, as always, have to take necessary countermeasures
    .

    The trade war escalated, the bears made a comeback, Shanghai copper fell 3.
    37% in a single day, the highest decline exceeded 4%, easily below the 5-day moving average
    .
    Today, the nonferrous sector had a net outflow of 899 million yuan, and the RMB broke through five consecutive barriers to 6.
    69
    .
    In the evening, focus on the US June CPI, PPI ratio, if the macro bearish superimposed on the US index higher, copper prices are difficult to stop, directly down 47500 yuan / ton integer platform
    .
    The 48,000 yuan / ton integer mark was tested in the evening
    .

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