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Today's Shanghai copper high volatility is dominant, intraday amplitude space is large, around the 70,000 mark to do the main contention, as of the end of the day close Shanghai copper main force 2111 closed at 70100, down 210, down 0.
3%.
Affected by domestic black and energy commodities, Shanghai copper fluctuated sharply during the day, and the morning rise failed to test for a while, and after midday, it once accumulated momentum to hit the high, but the pressure of the 70,000 mark still exists
.
Recently, LME copper registered warehouse receipts have continued to deteriorate, and are now at a seven-month low, and the cancellation of warehouse receipts continues to accumulate, the proportion of cancellations has risen to a high level, and copper inventories have continued to decline
.
SDIC Anxin Futures said that the proportion of LME warehouse receipts cancelled soared to two-thirds, and the shortage of physical goods continued to plague the market
.
In terms of the market, according to Shanghai Metal Network, the spot market sold more and bought less, and the premium fell by 55 yuan / ton
compared with yesterday.
Downstream consumption did not improve, the back structure expanded slightly in the month, middlemen actively dumped goods, intraday flat water copper has been discounted transactions, good copper mainstream transactions in flat water, the weakness of the spot market continued
.
At present, the domestic macroeconomy may be poor, industrial power rationing has an impact on industrial production, and Shanxi natural disasters aggravate power rationing may be, the overall flat effect of the Shanghai copper peak season on the fundamentals, less impact on the subsequent price momentum, the recent copper market is mainly affected by the surrounding market and the US index and other factors, the trend maintains range volatility, pay attention to 6.
85-71,000 first-line shocks
.
In terms of operation, high suction and low are the mainstay, approaching the main pressure level of 70,000 for the time being, waiting for the range to be clear and then further entering
.