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Overnight, Shanghai copper first suppressed and then rose, opened at 48840 yuan / ton, the beginning of the session copper price around the daily moving average narrow finishing, during the period rushed to 48990 yuan / ton, then short closed the exit, copper prices quickly pulled up to the highest level of 49400 yuan / ton, and maintained a high level of shock, the center of gravity of copper prices fell back to 49200 yuan / ton in the evening, the end index fell upward, closing at 49320 yuan / ton, up 1.
21%
intraday.
At present, the Brexit situation is still not clear, although the euro rose yesterday, the dollar remains strong, and copper prices are still bearish
in the short term.
In terms of spot, the financial pressure of holders is reduced and they are not eager to exchange cash, and the price of the market has fallen, resulting in a rise in the ceiling, traders rigidly taking goods, frequent inquiries, and the market environment has improved
.
It is expected that today's Shanghai copper 49880-49400 yuan / ton, spot flat water - premium 50 yuan / ton
.
Shanghai copper rose less than London copper under the pressure of the renminbi rise, and overnight Shanghai copper rose to close in Zhongyang, closing near
the 5-day moving average.
The short-term decline of Shanghai copper was suspended, but the trading positions were weakened, and the market was short
of buying.
Non-ferrous metals may continue to rally today, driven by the stock market rally, but without updates on the US-China trade talks, the upside is limited
.
The market still needs to look forward to the meeting between Chinese and US leaders before the
G20 summit on November 29.
