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    Home > Chemicals Industry > New Chemical Materials > March 9 Copper Market Morning Review

    March 9 Copper Market Morning Review

    • Last Update: 2022-11-29
    • Source: Internet
    • Author: User
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    Overnight, the copper market was weak to sort out, affected by the V-shaped trend of A-shares, London copper first fell back to the lowest level of the day of 4915 US dollars / ton, fell below the 5-day moving average, and then stabilized and recovered to recover some of the losses
    .
    Entering the European session, the dollar retreated, London copper volatility is strong, and then picked up the upward trend, recovered the intraday decline, and then overnight by China's trade data sluggish caused by worry, commodities staged a collective dive, oil prices plummeted, London copper also suffered from bear pressure, fell back to the lowest level of the day of 4852.
    5 US dollars / ton, and then recovered slightly to stabilize failed to recover the 5-day moving average, and finally closed at 4888 US dollars / ton, down 119 US dollars / ton
    from the previous day's closing price.

    Copper City

    Overnight, the Shanghai copper 1605 contract opened at 37920 yuan / ton, after the opening of the short position counterattack and long position reduction, copper price followed crude oil all the way down to the lowest 36800 yuan / ton, has fallen below the 5-day, 10-day moving average, and then rebounded slightly, supported above the 10-day moving average, so far to give up all the gains on Friday, and finally Shanghai copper closed at 36940 yuan / ton, down 1060 yuan / ton, it is expected that today's Shanghai copper 1605 will run within 36700 yuan / ton to 37100 yuan / ton

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