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July 3 Shanghai copper afternoon review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Last night, the internal and external trading continued to show a downward trend, Shanghai copper directly opened lower at 46520 yuan / ton, narrow range oscillation in the evening, short-term low 46220 yuan / ton, the evening Shanghai copper index increased 9020 lots to 618,000 lots, mainly
short positions.
Mainly because the recent trade easing sentiment has been gradually digested, and the macro has not shown any signs of substantial improvement, copper prices continue to come under pressure
.

Shanghai copper

At present, investors are worried about global economic growth, and the safe-haven asset US dollar has rebounded
.
In addition, the crude oil market's concerns about slowing demand have exceeded the boost to oil prices caused by OPEC's extended production cut agreement, and oil prices have continued to fall, which is negative for copper prices
.
Fundamental copper consumption has gradually entered the off-season, supply pressure has increased, and copper prices are difficult to see for the time being
.

At present, Shanghai copper has fallen below the Bollinger mid-band, and has lost all the support of the recent moving average, and the technical picture continues to weaken
.
Due to the fall in spot prices, low prices attracted the market to buy goods, trading sentiment slightly improved, so the willingness of holders to raise the water is high, and the premium continues to rise
today.
It is expected that today's spot premium 50-120 yuan / ton
.

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