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Overnight, the Shanghai copper 1912 contract opened at 47350 yuan / ton, and after the opening, copper prices fell, reaching as low as 47150 yuan / ton
.
Copper prices rebounded to 47310 yuan / ton and fell rapidly, and the center of gravity fell back to 47190 yuan / ton around the
shock.
Finally, Shanghai copper closed at 47180 yuan / ton, down 0.
13%.
Today, the Shanghai Copper Index traded 101,000 lots, and the total position decreased by 5,540 lots to 524,000 lots
.
At present, the position of Shanghai copper 1912 contract is 177,000 lots, and the position of Shanghai copper 2001 contract is 176,000 lots, pay attention to the monthly exchange of
the main contract.
On the macro front, last week's Eurozone economic data for October performed poorly, manufacturing activity contracted sharply, demand recovery was significantly less than expected, and the Bank of England's interest rate meeting also showed strong concerns about the current economic situation in the UK, and there was some pressure
on copper prices.
Continue to focus on the uncertainties
of the trade situation this week.
At present, Shanghai copper closed in the clouds, entangled near the 5-day and 10-day moving averages, and copper prices are expected to remain volatile
today.
In terms of spot, today will continue last week's spot market quotation pattern of high strength, although the plate price has fallen, but because this week into the delivery period, and the plate price spread remains around 80 yuan / ton, spot quotation will follow the spread and delivery subsidy
.
It is expected that today's Shanghai copper 47000-47300 yuan / ton, premium 80-liter 120 yuan / ton
.
