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Overnight, the main force of Shanghai copper 1805 opened at 52060 yuan / ton, the low at the beginning of the session to 51870 yuan / ton, the subsequent long increase in positions pushed copper prices straight up, the high to 52320 yuan / ton, and finally closed at 52260 yuan / ton, with a warehouse increase of 2888 to 271,000 lots
。 At present, non-ferrous metals are being suppressed by bearish China's economic forces, but downstream manufacturers production recovery is faster, orders are good, some enterprises digest inventory after the year, it is expected that after the price stabilizes 51500-52000 will attract more buying power, from a plate point of view, the 40-week line 51500 short-term support, maintain the medium and long-term bullish idea
.
It is expected that today's Shanghai copper 1805 range of 52000~52700 yuan / ton
.
In terms of the market, as of 2018-3-5, the spot price of SMM 1# electrolytic copper is 51765 yuan / ton, down 160 yuan / ton from the previous day, and 145 yuan / ton discount to the near-month contract.
Holders are waiting for downstream demand to return, and in the afternoon session, the enthusiasm of holders to ship decreases, quotations decrease, inquiry enthusiasm weakens, and the market trading atmosphere is light
.
Affected by the stability of the external market, Shanghai copper night trading showed a slight rebound and signs of recovery, currently hovering above the 52,000 yuan support level, because the current peak season demand has not yet started, the later focus on macroeconomic changes, it is expected that Shanghai copper short-term or continue to narrow range
.