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Last Friday, the Shanghai copper 1709 contract opened at 47510 yuan / ton, around the opening price up and down, bears are eager to try, once tested down 47400 yuan / ton, long attack, near the close of the short quickly reduced positions, closed at 47580 yuan / ton, up 30 yuan / ton
.
The trading volume of the Shanghai copper 1709 contract was only 38,000 lots, and the position volume did not change much, maintaining 182,000 lots
.
Pay attention to whether China's June Caixin PMI can return to above the boom and bust line, and it is expected to be good
.
The main force of Shanghai copper in the internal market gradually changed to 1709 contract, and the bulls actively opened positions in the far month, and the intraday material was strongly running at 47400-47800 yuan / ton
.
In terms of the market, as of 2017-6-30, the spot price of Shanghai metal 1# copper is 47175 yuan / ton, up 1340 yuan / ton from the previous week, and the discount of 205 yuan / ton compared with the near-month contract, the holder at the beginning of the week is high shipments, the discount is slightly expanded, Thursday with the rise of the plate to keep the value of the lock is trapped, the holder is forced to narrow the discount, the downstream to maintain rigid demand, traders to complete the long order appropriate replenishment, after the week most of the enterprises into the mid-year settlement state, the transaction is scarce, supply and demand stalemate saw characteristics are
。
On the news front, last week's hawkish speeches from the European Central Bank, the Bank of England and the Bank of Canada, the continuous decline of the US dollar sent copper prices higher
.
Domestically, China's State Grid project tenders rose to eight in May, up from two in April and March, and expectations for domestic demand improved
.
