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Overnight, the main 1805 contract of Shanghai copper opened at 52100 US dollars / ton, continuing the previous trend at the beginning of the session, coupled with the drag of the external market, copper prices showed a volatile downward trend down from the daily average, after a short finishing at 51810 yuan / ton, the bears entered the market strongly, dragging copper prices down to a low of 51560 yuan per ton, and then rose slightly, briefly sorted out at the end of the session, closing at 51740 yuan / ton, down 210 yuan / ton, and the position increased 5216 lots to 291,000 lots
.
In terms of news, copper stocks continue to accumulate, but the operating rate of copper rods and copper tubes in March is expected to rebound sharply, superimposed on the real start of demand after the two sessions, copper inventory inflection point is expected to appear, and copper prices are relatively low, the margin of safety for long is strong, so it is recommended that Shanghai copper continue to hold, and the prudent buy near sell far combination continue to hold
.
Driven by the external pullback, Shanghai copper night trading showed a low open and low going, falling below the 52,000 yuan line or testing the low of this month, approaching the 51,000 yuan line, because the current peak season demand has not yet started, copper prices are still weak and cautious, technical pressure is gradually released, it is expected that Shanghai copper short-term or weak operation, beware of the risk
of falling again.
