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July 14 Shanghai copper afternoon review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Last night, London copper began to recover after testing a low of $6504 / ton, quickly clashed above the daily moving average, and weakened slightly at the end of the day to return to near
the daily moving average.
Shanghai copper opened smoothly after the night session, running at 52850 yuan / ton line, and also fell
slightly downward at the end of the day.

At present, copper prices continue to be strong due to supply-side disturbances, and yesterday's vote at Chile's Centinela copper mine was in favor of workers' strikes, which was positive for copper prices, but at the end of the day, U.
S.
stocks fell significantly due to concerns about the epidemic, limiting last
night's copper price gains.
Overall, loose capital coupled with supply disturbances, positive factors are still sustainable, and copper prices are expected to maintain an upward trend
.

In terms of spot, as delivery approaches, traders are reluctant to discount shipments under the pattern of near strength and far weakness, and it is expected that the premium will stalemate at the current position
.
It is expected that today's London copper 6420-6480 yuan / ton, Shanghai copper 51900-52400 yuan / ton
.
It is expected that today's spot flat water - premium water 30 yuan / ton
.

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