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Trade Service
Overnight, the main 1701 contract of Shanghai copper opened higher at 40180 yuan / ton
.
After the opening of the long and short game, Shanghai copper tested 40070 yuan / ton after consolidating near the daily moving average, and then as London copper continued to rise, ignited long buying enthusiasm, the end of the day rushed up 40470 yuan / ton, closed at 40390 yuan / ton, up 510 yuan / ton, the trading volume decreased by 347,000 hands to 158158 lots, and the position increased by 4018 lots to 244394 lots
.
The enthusiasm for copper long in the night trading period has cooled down compared with the day, but it still maintains a high level of volatility, and it is expected that today's operating range is 40000~40800 yuan / ton
.
In terms of market: on November 7, Shanghai electrolytic copper spot contracts reported a premium of 100 yuan / ton - 150 yuan / ton of water premium, and the trading price of flat water copper was 39550-40080 yuan / ton
。 The first trading session period copper maintained a rise of 500 yuan, the transaction was acceptable, the second trading session copper soared all the way quickly touched the 40,000 yuan integer mark, the market is overwhelmed, the holder of a large number of value preservation orders are trapped, quotation difficulties, the supply of copper is slightly reduced, the premium rises, speculators lack of operating space, caught in the wait-and-see, downstream fear of heights is strong, more wait for copper prices to stabilize after operation, the trading atmosphere is blocked with the high rise of the plate, Monday characteristics are obvious
.
Stocks: As of November 7, LME copper stocks reported 298,400 tons, a daily decrease of 6,600 tons, but still higher than the average inventory of 217,000 tons during the year, and the high point of inventory during the year was 379175 tons; as of November 4, the previous Shanghai copper inventory was reported at 97,839 tons, a weekly decrease of 4,709 tons, far lower than the average inventory value of 229,000 tons during the year, indicating that the pressure on domestic inventories is much weaker than that of foreign countries
.
Overnight, Shanghai copper rose strongly to 40390 yuan / ton, as the market expects the probability of Hillary to win gradually climb, and London copper inventories have decreased significantly, the current Shanghai copper effectively stabilized above the moving average group, the upward trend is obvious, in addition, London copper recently increased positions, indicating that the confidence of bulls to do long has increased
.
In terms of operation, it is recommended that the Shanghai copper 1701 contract can be backed above 39,500 yuan, and the entry reference is around 40,000 yuan, and the target is 41,000 yuan
.
