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Overnight, the Shanghai copper 1912 contract opened at 47,000 yuan / ton, and the copper price rose rapidly after the opening, and the copper price fell back to 46,960 yuan / ton after testing 47190 yuan / ton
.
Subsequently, copper prices fluctuated upward, and the center of gravity moved up to 47100 yuan / ton
.
Finally, Shanghai copper closed at 47110 yuan / ton, up 0.
34%.
The trading volume of the Shanghai Copper Index was 132,000 lots, and the total position increased by 5,204 lots to 554,000 lots
.
In terms of spot, due to the sharp rise in market prices, it is expected that the buying sentiment of the high-priced market will be suppressed, and holders are expected to reduce their quotations, but because the spot is about to face delivery in recent days, the overall quotation will not be reduced too much
.
It is expected that today's Shanghai copper 46900-47300 yuan / ton
.
Spot premium 60-liter 110 yuan / ton
.
On the news, the favorable Sino-US trade negotiations gradually dissipated, the positive momentum of London copper was exhausted, and the exchange rate of RMB against the US dollar was affected by the easing of trade all the way, further limiting the price of Shanghai copper, and the probability of falling back in the current state of refined copper fundamentals has not
yet improved.
In terms of fundamentals, the recent macroeconomic data news is flat, the continuous development of domestic infrastructure has been reflected, it is expected that there is still upside after the short-term copper price malaise, short-term attention to the support level of 4.
7-46,800 effect, the operation is cautious and wait-and-see, and merchants can ship
appropriately.
