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On Friday, the Shanghai copper 2009 contract closed at 51,440 yuan / ton, up 0.
06, with a volume of 42,000 lots, and short positions reduced by 817 lots to 112,000 lots
.
In the evening, copper prices remained volatile, long and short forces were intertwined, and both internal and external disks closed close to the five-day moving average to close the doji.
On the macro front, the renewed escalation of the coronavirus pandemic in the United States has heightened uncertainty about economic recovery, while escalating international tensions have also increased uncertainty
.
CMX gold steadily rose to break $1,810 on Friday, reflecting a return
to risk aversion.
However, on the other hand, copper supply-side disturbances continued, providing support below copper prices, so copper prices carried out a volatile consolidation
on Friday.
This situation is expected to continue, waiting for the market macro sentiment to improve
.
In terms of spot, the willingness to purchase downstream after the stability of the market price has increased, and it is expected that the premium will continue to rise
today.
It is expected that today's London copper is 6400-6450 US dollars / ton, Shanghai copper 51300-51700 yuan / ton
.
It is expected that today's spot premium will be 50-80 yuan / ton
.
