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Today's copper market volatility sorting, Shanghai copper main 1707 contract opened at 45200 yuan / ton, the center of gravity slightly raised to 45300 yuan / ton first-line consolidation operation, but the bulls' upward willingness is not strong, intraday once returned to near
the opening price.
In the afternoon, chemical glass and methanol broke out one after another, the Shanghai index also showed red, the non-ferrous plate reaction was flat, the main force of Shanghai copper around 45300 yuan / ton continued the consolidation trend, bears looking for gaps to reduce positions, basically recovered the decline of the night low open, closed at 45300 yuan / ton, up 170 yuan / ton
.
This morning, the price of copper in the two domestic futures markets rose slightly, but gradually entering the off-season, most copper manufacturers have reflected a significant decline in orders, coupled with environmental protection impact is still fermenting, so they are still cautious in purchasing, mainly purchasing on demand
.
At present, there are still not many sources of recycled copper available for trading on the market, and copper prices fluctuate in the low range to aggravate the selling mentality of holders, and they still hold a bullish attitude towards the future market, and it is expected that even if copper prices decline in the short term, the space will be limited
.
During the day, speculative funds in the non-ferrous sector outflowed around 600 million, and on the capital side, Shibor rose to a two-year high in March, and the tension in capital gradually spread to the entire industry
.
As far as copper is concerned, middlemen and processing fee enterprises have responded to the tight
funding of funds.
Recently, the trading volume of the Shanghai copper index is only 300,000-400,000 lots, the volume energy is weak, speculative funds are mostly lingering in zinc, aluminum and other varieties, copper prices have not yet gone out of the directional trend, it is expected that the shock pattern will be difficult to change
for the time being.
