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Overnight, the main 1701 contract of Shanghai copper opened lower at 43670 yuan / ton
.
After the opening, the bulls bought at a low level, Shanghai copper extended the daily moving average slowly upward, the high touched 44480 yuan / ton, the end of the short position closed, Shanghai copper closed at 44360 yuan / ton, down 580 yuan / ton, the trading volume decreased by 574,000 lots to 253234 lots, and the position increased by 2446 hands to 245018 lots
.
Overnight Shanghai copper low rise, bulls still dominate the market, offshore RMB continues to depreciate, copper prices are difficult to fall sharply, it is expected that today's operating range of 43500~44500 yuan / ton
.
Market: On November 15, Shanghai electrolytic copper spot 1611 contract reported a discount of 60-60 yuan / ton, and the trading price of flat water copper was 45400-46000 yuan / ton
。 On the last trading day of the month, the holders still quoted more than 1612 contracts, and the contracts still showed an inverted basis state, the holders actively adjusted the premium to seek transactions, and the copper premium narrowed all the way, but the noon market closed Shanghai copper next month basis widened again to more than 200 yuan tons, the contract price difference of the month reached 400-600 yuan / ton, speculators can not operate, downstream wait-and-see mostly, oversupply phenomenon is obvious, waiting for the operation after the change of month
.
Inventory: As of November 11, the previous Shanghai copper inventory reported 112551 tons, a weekly increase of 14,712 tons, far lower than the average inventory value of 229,000 tons during the year, indicating that the pressure on domestic stocks is much weaker than that of foreign countries
.
Overnight, the Shanghai copper oscillation rose slightly to 44350 yuan, but because the US dollar index stood at the 100 integer mark, it may limit the height of the copper price rebound, and after the rapid rise of short-term copper prices, the risk of technical pullback has not been fully released
.
In terms of operation, it is recommended to focus on intraday operation, and the Shanghai copper 1701 contract can be sold high and low between 43000-45500 yuan, and the stop loss is 800 yuan / ton
each.
