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    Home > Chemicals Industry > New Chemical Materials > October 18 Shanghai copper noon review

    October 18 Shanghai copper noon review

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    Overnight, boosted by the favorable domestic economic data, Shanghai copper gap opened, opened at 50380 yuan / ton, at the beginning of the day above the daily moving average narrow finishing after standing at the highest level of 50560 yuan / ton, then bulls afraid of high avoidance straight line pulled down copper prices below the daily moving average, fell to the lowest point of 50,000 yuan / ton, short exit, copper prices shock recovery, and finally still below the daily moving average narrow range shock closed at 50270 yuan / ton
    .

    Shanghai copper

    At present, the Fed once again reported interest rate hike remarks, the US index performance is strong, copper prices are under pressure, domestically, although yesterday's social finance data is considerable, but excluding the statistical caliber adjustment factor of 738.
    9 billion yuan of special bonds, social financing is actually only 1.
    47 trillion, from the comparable caliber, September social finance fell to at least 2017 since the lowest level, lower than market expectations and previous values, social finance statistical caliber adjustment can not hide the reality of weak financing of the real economy, even so, the market for the fourth quarter of infrastructure boost and year-end market reserve is still expected

    On the plate, Shanghai copper stabilized the 5 and 10-day moving averages, approaching the middle band of the Bollinger curve, the red energy column continued to narrow, and the too low position of Shanghai copper implied that the consumption increase was not large
    .
    In terms of spot, Shanghai's inventory continued to increase, the market buying strength was still weak, the market sentiment of selling goods for cash was slightly urgent, shipments actively suppressed premium, and the transaction showed a gradual decline after delivery
    .
    It is expected that today's London copper 6170-6220 US dollars / ton, Shanghai copper 49900-50500 yuan / ton, spot discount 70-discount 30 yuan / ton
    .

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