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November 7 Shanghai copper afternoon review

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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Overnight, the Shanghai copper 1912 contract opened at 47290 yuan / ton, and after the opening, the copper price fluctuated
around the center of gravity of 47270 yuan / ton.
After 23 o'clock, the center of gravity of copper prices began to move downward, and the center of gravity fell back to 47220 yuan / ton and continued to fluctuate
.
Copper prices fell rapidly at the end of the session, testing down 47110 yuan / ton
.
Finally, Shanghai copper closed at 46150 yuan / ton, down 0.
08%.

Today, the Shanghai Copper Index traded 74,000 lots, and the long position reduced its position by 984 lots, reaching 541,000 lots
.

Shanghai copper

In terms of spot, due to the recent high market premium, downstream buying interest has been suppressed, some traders have received goods at low prices positively, the continuous closure of the import window has limited the market circulation supply, but also gave the holder a reason to rise to the top, today's market fell slightly, it is expected that the holder's quotation is difficult to adjust, the overall transaction situation continues to remain deadlocked
.
It is expected that today's Shanghai copper 47000-47400 yuan / ton, spot premium 80-liter 100 yuan / ton
.

Demand is a key factor driving metal prices, and supply concerns caused by the current Chilean protests are not enough to support copper prices
.

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