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Overnight, London copper rebounded during the European session, and the main force of Shanghai copper was boosted to open at 47960 yuan / ton
.
After the opening, the bulls improvised to increase their positions into the market, Shanghai copper went up to a high of 48250 yuan / ton, and then the bears tried to suppress, copper prices fell slightly back to near the daily moving average, and some bears closed their positions at the end of the day, copper prices recovered, closing at 48190 yuan / ton, up 250 yuan / ton, the trading volume decreased by 123,000 lots to 97,750 lots, and the position increased by 682 lots to 218056 lots
.
Overnight Shanghai copper trend is clear, the whole line station on the average group, but the copper market long and short are mostly small test positions, trading is light, pay attention to the results of Chile copper mine negotiations within the day, it is expected that the Shanghai copper operating range is 47800~48300 yuan / ton
.
Overnight, London copper opened at 5899.
5 US dollars / ton
.
At the beginning of the Asian session, copper fell back after a short rush, fluctuating slightly around the daily moving average of 5899 US dollars / ton, and the metal fell sharply in the afternoon, copper prices fell sharply, recording a low of 5863 US dollars / ton, testing the 5-day moving average support downward, and returning after confirming the support; Entering the European session, after a slight consolidation below the daily moving average, London copper broke free from the shackles of the daily moving average, rose sharply to smooth out all the losses in the day, hovered slightly near the middle rail, and continued to test the pressure of the middle track in the evening, recording a high of $5945 / ton, closing at $5940 / ton, up $30 / ton
.
Overnight London copper first fell and then rose, the dollar index has always oscillated around 100 points, London copper effectively broke through the pressure of the middle rail, but on Friday there was news that Chile Escondida copper mine investors accepted the striking union's negotiation proposal, Monday may meet, before the copper mine has been on strike for 39 days, today's negotiations or become an important turning point, it is expected that copper prices will be greatly affected by the negotiation results, within the day near the middle rail to seek direction, the operating range of 5890 ~ 5950 US dollars / ton
.
