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Overnight, the main 1708 contract of Shanghai copper opened higher at 46860 yuan / ton
.
At the beginning of the session, the daily moving average fluctuated in a narrow range, and then the bulls entered, and the Shanghai copper upward impacted the upper Bollinger Road rail, with an evening high of 47060 yuan / ton, closing at 47030 yuan / ton, up 210 yuan / ton, and the warehouse increased by 2118 lots to 197360 lots
.
Overnight Shanghai copper followed the outside market continued to rise, bulls entry willingness strengthened, 5 consecutive days of K-line arranged near the upper band, is expected to form a directional breakthrough here, it is expected that the Asian session Shanghai copper still performs steadily, running at 46750 ~ 47050 yuan / ton, European and American session or upward impulse energy
.
In terms of the market, as of 2017-6-28, the spot price of Shanghai Metal 1# copper was 46630 yuan / ton, up 325 yuan / ton from the previous day, and the discount of 200 yuan / ton compared with the near-month contract, Shanghai copper continued to rise, some middlemen due to the end of the month the last long order completed delivery, into the market to absorb flat water copper, low-price supply is difficult to find, the tail copper price rose, the current copper discount narrowed again, downstream on-demand delivery, transaction deadlock is more obvious
.
In terms of news, on Wednesday, the governors of the Bank of England and the Bank of Canada successively released signals to tighten currencies, the pound sterling and the Canadian dollar rose against the US dollar, and the US dollar index once fell below the 96 mark during the session
.
Similarly, yesterday's onshore and offshore yuan also rose above 6.
8 against the dollar in early trading, with the offshore yuan hitting a new two-week high and the onshore yuan closing at a new two-week high
.
Although the euro briefly plunged because the European Central Bank believed that the market misread Draghi's remarks, the market repaired in an instant and did not change the dollar's
decline.
The postponement of the vote on Trump's health care bill also weighed on the dollar's performance
.
In the short term, the US dollar index continued to weaken, which greatly boosted copper prices in the short term
.
