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March 20 Shanghai copper morning review

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

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weak force

iridium spot price

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Overnight, the main 1805 contract of Shanghai copper opened at 51660 yuan / ton, affected by the external market, the initial short influx, dragging the price down to break the daily average to the low of 51160 yuan / ton
.
Bulls then entered the market with their positions to curb the decline
.
The whole oscillated slightly below the daily moving average, touching a height of 51640 yuan / ton
.
It fell slightly at the end of the day, closing at 51,320 yuan / ton, down 270 yuan / ton, and the warehouse increased by 2,142 lots to 298,000 lots
.

Shanghai copper

In terms of spot, with the decline of the market, although the holders have the willingness to hold the price, there are more sources, the effect is not obvious, and they look forward to buying
downstream.
It is expected that the main force of Shanghai copper today is 51150~51500 yuan / ton, and the spot discount is 230~180 yuan / ton
.

Dragged down by the external pullback, Shanghai copper night trading showed a low open and low going, yesterday fell below the 52,000 yuan line after approaching 51,000 yuan support, 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.

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