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June 6 Shanghai copper afternoon review

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

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1 20 ratio

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Overnight, the Shanghai copper 1808 contract opened at 52570 yuan / ton, and the bulls poured in at the beginning of the session, pushing copper prices above the daily moving average, touching 52940 yuan / ton after the rally slowed
.
Subsequently, the overall upward trend was volatile upward away from the daily moving average, with a high of 51380 yuan / ton
.
The rally slowed down at the end of the day, closing at 53130 yuan / ton, up 880 yuan / ton, or 1.
68%.

Shanghai copper

In terms of news, recently, Hebei Province announced environmental monitoring of non-ferrous metal processing concentration areas, domestic environmental protection policies upgraded, the central environmental protection inspection team stationed in Hebei, Inner Mongolia and other 10 provinces, some scrap copper smelters in Jiangxi have been stopped, and some copper enterprises have limited production and production plans
.
The supply side of the copper market may tighten, supporting copper prices upward, and spot copper prices are expected to rise
sharply today.

The dollar index fell back below 94 overnight, as supply concerns over Chilean labor negotiations continued to ferment, boosting copper prices
' overall center of gravity.
In terms of Shanghai copper, the attention of the copper plate has rebounded, and the main force changed hands overnight, rising sharply to close Changyang
.
It is expected that the recent rally will continue, and the main force of Shanghai copper is 52800~53300 yuan / ton
.
In terms of spot, the market has further risen, and the quotation may narrow, and it is expected that today's discount of 40 ~ liter of water is 20 yuan / ton
.

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