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Market review, Wednesday showed that copper prices fluctuated sharply, and long and short trading was frequent
.
Shanghai copper volatility is weak, CU1901 contract trading range of 48740-50000 yuan / ton, the end of the day closed at 49410 yuan / ton, down 0.
78%
on the day.
In the external market, as of 15:36 Beijing time, the three-month London copper was reported at 6207.
5 US dollars / ton, up 0.
56% on the day, and its upper pressure level was focused on 6250.
0 US dollars / ton
.
In terms of the market, overnight non-ferrous metals were dragged down by crude oil, and Shanghai copper fell by about 500 yuan / ton during the day, falling back under pressure of 49,300 yuan / ton
.
Holders finally in the market plunge, complete the willingness to rise to the top, the morning market quotation premium 80-150 yuan / ton, supply and demand sides only maintained a brief stalemate, in the downstream active inquiry atmosphere, the holder can be slightly reduced to good copper premium 130-140 yuan / ton transaction, flat water copper maintained a stable premium of about 70 yuan / ton transaction, downstream in the beginning of the week to maintain a cautious wait-and-see, intraday buying finally has a significant improvement, wet copper quotation to pull up the trend is obvious, the transaction raised to the discount of 150-120 yuan / t Ton range
.
Compared with the beginning of the week, the market transaction activity has increased significantly, and the trading enthusiasm has improved, showing the rare market characteristics
of downstream consumer buying dominating the mainstream.
In terms of news, the Asian market dollar index weakened, now trading around 96.
687, last night due to the global stock market plunged, the market risk aversion rose, the dollar strengthened, but because Trump again "shot" the Fed on Tuesday, saying that he wants to see lower interest rates, the dollar rise is limited, the Asian market has retreated
.
In terms of industry, Kazakhstan's refined copper production from January to October was 360,131 tons, up 3.
6%
from a year earlier, data released by Kazakhstan's Statistics Committee on Tuesday.
The Shanghai copper shock was weak during the day, mainly due to the impact of the overnight recovery of the US dollar index and the collapse of crude oil prices; In the spot market, with the decline in copper prices, after the downstream remained cautious at the beginning of the week, the intraday market transaction increased significantly more activity than at the beginning of the week, and the enthusiasm for trading improved
.
Operationally, it is recommended that the CU1901 contract can consider selling high and low between 49200-50000 yuan / ton, and the stop loss is 300 yuan / ton
each.
