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    Home > Chemicals Industry > New Chemical Materials > May 17 Copper Market Brief Review

    May 17 Copper Market Brief Review

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    In the morning, the People's Bank of China continued to put a net 10 billion yuan into the open market, and the Shanghai copper main 1706 contract opened at 45350 yuan / ton
    .
    At the beginning of the session, Shanghai copper slightly tested down to 45270 yuan / ton, and then the short position copper price returned to the daily moving average near the consolidation, in the afternoon in the black rally driven by the copper market short position, Shanghai copper strong upward pierced the 20-day moving average, recorded a high of 45650 yuan / ton, the high slightly consolidated after some long profit outflow, copper prices gave up most of the previous gains, closed at 45390 yuan / ton, up 100 yuan / ton, trading volume increased by 30556 hands to 226698 lots, and the position decreased by 8550 hands to 211564 lots
    。 Today's Shanghai copper is still running between the 5 and 20-day moving averages, and the late retreat shows that the pressure on the upper 20-day moving average is greater, and after the close, with the sharp decline in the external market, it is expected that the Shanghai copper will test the 5-day support
    downward in the evening.

    Copper City
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