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Overnight Shanghai copper main 1908 contract opened at 46270 yuan / ton, after the opening by the external disk, the center of gravity strongly rushed up to around 46500 yuan / ton after stagnating, here after the shock consolidation, the end of the session again due to the short position closed out of the market to drive, the price short-term high of 46600 yuan / ton, short-term high after the fall, closed at 46530 yuan / ton, up 0.
56%
overnight.
The trading volume of the Shanghai Copper Index was 99,736 lots, and the position decreased by 6,230 lots to 613,000 lots
.
Although spot goods are about to face delivery next week, the overall demand in the market is light, and the selling sentiment of holders is not strong for the time being, and the market transaction is
deadlocked.
It is expected that today's Shanghai copper 46200-46700 yuan / ton, spot premium 40-90 yuan / ton
.
In terms of news, China's annual rate of industrial added value above designated size fell for the second consecutive month in May, fixed asset investment from January to May was not as good as the previous value and expectations, and the downward pressure on the domestic economy still exists, which is not conducive to the rebound
of copper prices.
The spot market has fallen with the market, and the downstream dip market has increased
.
Pay attention to Sino-US trade dynamics, it is expected that the copper price will fluctuate weakly in the range of 4.
6-4.
65 in the near future, and the downstream demand will be the mainstay
.