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Last night, Shanghai copper jumped low, bears actively entered the market, copper prices fell nearly 0.
8% to a low of 45620 yuan / ton, Shanghai copper index holdings increased by 12894 lots
.
Copper prices weakened mainly as the market waited for the Fed chairman's attitude towards cutting interest rates, the US index tested 97.
6, and the market was worried about the global economic situation
.
The European economy remains weak for now, mainly due to the uncertain Brexit outlook and heightened expectations
for the Bank of England to cut interest rates.
In addition, the Fed's interest rate cut is still uncertain, which has exacerbated the market's risk aversion, and the market favors safe-haven assets
.
At present, Shanghai copper is closing in the clouds, and the lower shadow line is below the lower Bollinger band, which may be supported
today.
In terms of spot, due to the sharp decline in the market, low prices are expected to attract downstream purchases, market transaction enthusiasm will be improved, and there is room
for under-price shipments.
It is expected that today's Shanghai copper 45700-46100 yuan / ton, spot premium 30-liter 90 yuan / ton
.
