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Overnight, the Shanghai copper 1912 contract opened at 47100 yuan / ton, and after the opening, the copper price fluctuated in a narrow range around the center of gravity of 47080 yuan / ton, with a high of 47140 yuan / ton and a low of 47020 yuan / ton
.
Finally, Shanghai copper closed at 47120 yuan / ton, up 0.
13%.
Today, the Shanghai Copper Index traded 69,000 lots, and the total position increased by 2,690 lots to 541,000 lots
.
On the macro front, the US non-farm payrolls report was unexpectedly strong, and the ISM manufacturing PMI ended a six-month losing streak in October, boosting confidence in the largest economy and driving global equities higher
.
Crude oil was also boosted by macro optimism, rising 3.
86% to $56.
23 a barrel, which boosted copper prices
.
At present, Shanghai copper closed slightly positive, and there are multiple moving averages below, and there is support for technical copper prices
.
In terms of spot, due to the recent plate price spread to maintain around Contango 80 yuan / ton, considering next week's delivery, the market quotation will gradually approach the delivery level, and due to the recent closure of the import window, traders in the hands of the circulating supply gradually tightened, so today's quotation will not appear obvious discount, but the transaction and it remain
deadlocked.
It is expected that today's Shanghai copper 46900-47300 yuan / ton, spot premium 10-liter 60 yuan / ton
.
