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March 15 Shanghai copper morning review

 Last Update: 2022-12-09
 Source: Internet
 Author: User

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Overnight, the main 1805 contract of Shanghai copper opened at 52820 yuan / hand, and traded along the daily moving average at the beginning of the session in the range of 52910 yuan / ton to 52712 yuan / ton, and the amplitude slowly narrowed below the daily moving average
.
Subsequently, the bears entered the market with their positions, and the copper price quickly fell to 52410 yuan / ton, and the end of the session fluctuated slightly
.
It closed at 52,450 yuan / ton, up 90 yuan / ton, and the warehouse increased by 1,916 lots to 291,000 lots
.

Shanghai copper

In terms of news, the domestic economic data for January-February was strong, and the resilience of China's economy is expected to continue as external demand continues to pick up and real estate investment exceeds expectations, and copper demand is expected to be good
in the future.
In March, the operating rate of copper rods and copper pipes is expected to rebound sharply, the inflection point of copper inventory is approaching, and the copper price is at a relatively low level, and the margin of safety for long is strong, so it is recommended to hold long positions lightly, and the prudent buy near and sell long combination to continue to hold
.

Driven by the external rush high, Shanghai copper night trading showed a slight rise, overall in the 52,000 yuan line continued to fluctuate, because the current peak season demand has not yet started, copper prices are still weak and cautious, technical, Shanghai copper short-term need to verify the support ability of the 5-day moving average, KDJ indicators tend to expand, overall optimistic
.
It is expected that the main force of Shanghai copper today is 52580~53000 yuan / ton
.
In terms of spot, it is expected that today's premium will be 50~100 yuan
.

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