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June 4 Shanghai copper morning review

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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Overnight, the main force of Shanghai copper was boosted by the external disk, and the gap opened at 51640 yuan / ton
.
At the beginning of the session, it touched a high of 51680 yuan / ton, and then slowly declined, testing down 51490 yuan / ton
.
Then it turned down to rise, and the overall trend was volatile upward, crossing the daily moving average
upward.
Late short positions reduced, slightly up, touched up 51830 yuan / ton, closed at 51820 yuan / ton, up 480 yuan / ton, warehouse increased 1056 lots to 169,000 lots
.

Shanghai copper

Good data from China's manufacturing sector boosted copper prices on Friday, although a stronger dollar still limited its rally
.
The main force of Shanghai copper stands at the integer mark of 51,500 yuan / ton, and the center of gravity is up, and the support is relatively stable
.
It is expected that the main force of Shanghai copper is 51500~52000 yuan / ton
today.
In terms of spot, the rise in the market may have a certain reduction effect on the price sentiment of holders, and it is expected that today's flat water ~ premium 40 yuan / ton
.

On the demand side, although China's industrial data in May is good, it is expected that orders for cable companies entering June will weaken
compared with May.
The Shanghai copper index position remains low, there is no obvious contradiction between copper supply and demand, and the range-bound pattern has been maintained for a long time, which is not favored
by funds.
Pay attention to whether the results of Chilean mine negotiations can boost Shanghai copper out of
the shock range.
On the whole, it is expected that the Shanghai copper shock pattern will continue next week, with the overall operation in the range of 50800-52500 yuan / ton
.

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