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Last night, the Shanghai copper 2009 contract closed at 52,230 yuan / ton, up 0.
50%, with a volume of 77,000 lots, and short positions reduced by 1,025 lots to 117,000 lots
.
Last night, copper prices maintained a volatile upward trend, but the rally was relatively slow, and the market still had geopolitical concerns, which needed to re-test the previous high
after a volatile consolidation.
On the macro front, the person in charge of the new crown test in the United States said that the number of new cases per day in the United States may exceed 200,000, and the number of initial jobless claims in the United States increased unexpectedly last week, indicating that the prospects for economic recovery are doubtful, and U.
S.
stocks fell to a one-week low yesterday
.
Affected by geopolitics and the epidemic, gold prices have risen well recently, approaching the 1900 mark yesterday, while crude oil fell back due to the increase in inventories
.
On the whole, although copper fundamentals are still good, there is some pressure on copper prices on the macro side, which is expected to limit the recent rise in copper prices and wait for market sentiment to improve
.
In terms of spot, when the market is relatively stable, the market quotation level is expected to be the same
as yesterday.
It is expected that today's London copper 6450-6500 US dollars / ton, Shanghai copper 51900-52200 yuan / ton
.
It is expected that today's spot premium will be 30-100 yuan / ton
.
