June 17 Shanghai copper morning review

Market: On June 16, Shanghai electrolytic copper spot reported a premium of 80-120 yuan / ton, and the transaction price of flat water copper was 35790-35870 yuan / ton
.
The opening holder's quotation was positive, and the good copper reported a premium of 120 yuan / ton, but the inquiry price was more and the transaction was less
.
After that, the cargo holder continued to exchange cash at the high and actively precipitated the water to produce good copper, but because its premium of 90-100 yuan / ton was still quickly digested, the good copper premium rose again to 110-120 yuan / ton
.
Downstream gradually entered the market, but the fear of heights is obvious, the transaction is mainly concentrated among traders, and the short-term premium may still be firm
.

In terms of stocks: As of June 8, the previous Shanghai copper inventory reported 182338 tons, a sharp weekly decrease of 28,657 tons, the twelfth consecutive week of decline, and the decline further expanded, close to the low set on December 31 last year, with a cumulative decrease of 212439 tons or 53.
8%.

The main force of Shanghai copper opened low overnight, closing down to 35,210 yuan, weighed
down by the strong rebound of the US dollar index and the year-on-year rise in China's refined copper production in May.
In addition, before the announcement of the Brexit referendum next week, investors' risk aversion is high, which is not conducive to the strengthening of copper prices, and the short-term copper price trend is volatile
.
It is recommended that the Shanghai copper 1608 contract can sell high and low between 35600-34900 yuan, and the stop loss is 300 yuan / ton
each.