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Last night, the main force of Shanghai copper 1709 opened at 47810 yuan / ton, after the opening copper price slightly oscillated below the daily moving average, the center of gravity moved slightly up, and after repeatedly hitting the high level of 47800 yuan / ton without success, copper prices fell all the way down to around
47490 yuan / ton.
Fell below the 10-day moving average
.
The tail plate was repaired to around
47750 yuan / ton.
It closed at 47,750 yuan / ton, down 40 yuan / ton
.
The trading volume of the main contract was 101,000 lots, and the position fell by 2,564 lots to around
211,000 lots.
The night session recorded a long lower shadow, reflecting that investors' willingness to kill is not strong, and it is expected that the main operating range of Shanghai copper today is 47600-47900 yuan / ton
.
In terms of spot, the overall market sentiment is more, the holders have abundant funds, and it is expected that the premium will not change much, and it is expected that today's discount is 70-30 yuan / ton, and it is recommended to replenish the downstream bargain.
In terms of the market, as of 2017-7-20, the spot price of Shanghai metal 1# copper was 47615 yuan / ton, up 40 yuan / ton from the previous day, and the discount of 95 yuan / ton compared with the contract in recent months, the low level of Shanghai copper rebounded, holders are still optimistic about the future market in the short term, the ratio of Shanghai is not good, the market imports of copper have sharply decreased, the quotations of holders are stable and rising, the downstream is still standing and watching, the transaction is mostly among traders, although the consumption is light, but the supply is also slightly tightened, and the discount is significantly narrowed
.
In terms of news, the dollar dipped overnight under Draghi's hawkish remarks, turning from rising to falling, approaching the 94 mark at a minimum
.
The base metals in Shanghai showed a pullback state, and nickel, a variety that had risen well recently
, showed a large decline.
The external base metals are also in the process of volatile sorting, and the overall view is mixed
.
Overnight, Shanghai copper continued to maintain a high level of decline, and then due to the rapid rise of the dollar dive, the market was still bearish
.
