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July 29 Shanghai copper afternoon review

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

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Last night, the Shanghai copper 2009 contract closed at 51,830 yuan / ton, up 0.
25%, with a volume of 64,000 lots, and long positions increased by 2,467 lots to 117,000 lots
.
Copper prices rose back after touching low last night, and London copper fell to $6391 / ton, and then started a strong rebound, pulling up more than $70 / ton
in the evening.
Shanghai copper also maintained its upward trend after the night open, recovering its afternoon diving losses
.

Shanghai copper

On the macro front, the new round of stimulus negotiations in the United States was difficult, the consumer confidence index fell more than expected in July, and the three major stock indexes of US stocks fell across the board, indicating that the impact of the epidemic on the United States continues
.
Copper prices are expected to remain volatile, supported by easing funds and tight supply expectations
.

In terms of spot, the market has basically turned to the next monthly ticket quotation, and the transaction presents a prize pool tug-of-war
.
It is expected that today's London copper 6400-6470 US dollars / ton, Shanghai copper 51500-51900 yuan / ton
.
It is expected that today's spot premium will be 30-100 yuan / ton
.

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