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Overnight, the main 1805 contract of Shanghai copper opened at 52090 yuan / ton, oscillating along the daily moving average at the beginning of the session, and then fell slightly, trading in the range of 51930 / ton and 52060 yuan / ton
.
Then rushed back down, the high point was 52140 US dollars / ton, and the end of the day was slightly raised, closing at 52040 yuan / ton, up 110 yuan / ton, and the position decreased by 3814 hands to 291,000 lots
.
On the macro front, the release of US CPI data was in line with expectations, helping to ease concerns in the market, the weakness of the US dollar still formed support, copper prices are expected to stabilize, and Shanghai copper is expected to be between
51900 / ton and 52400 yuan / ton today.
In terms of spot, downstream consumption has not fully recovered, inventory pressure is large, as the delivery date approaches, the stalemate will continue, and it is expected that today's premium will be 20~80 yuan
.
Driven by the external pullback, Shanghai copper night trading showed a low open and a low go, falling below the 52,000 yuan line or down this month's low, because the current peak season demand has not yet started, copper prices are still weak and cautious, technical pressure is gradually released, we expect Shanghai copper in the short term or weak operation, beware of the risk
of falling again.