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    Home > Chemicals Industry > New Chemical Materials > October 31 Shanghai copper afternoon review

    October 31 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 47460 yuan / ton, and after the opening, the copper price fell back to 47400 yuan / ton in the short term, and then the copper price rose, testing 47570 yuan / ton
    .
    At the end of the session, copper prices fell again, and finally Shanghai copper closed at 47400 yuan / ton, down 0.
    17%.

    Today, the Shanghai Copper Index traded 69,000 lots, and long positions reduced their positions by 144 lots, reaching 545,000 lots
    .

    Shanghai copper

    In terms of spot, due to the recent surge in market circulation, holders have greater pressure to sell, but due to the end of the month, the market buying sentiment is light, and the market transaction continues to be
    deadlocked.
    It is expected that today's Shanghai copper 47200-47600 yuan / ton, spot discount 20-liter 20 yuan / ton
    .

    Fundamentally, it is still necessary to pay attention to the unrest in Chile, and the latest news that the port has called for a strike, and does not rule out the possibility
    of affecting copper concentrate shipments at a later stage.
    In addition, the market is still divided on downstream consumption, and the progress of grid investment is too late, raising concerns
    about whether the target can be achieved within the year.
    Short-term copper prices are expected to continue to fluctuate warmly, but the momentum to continue to break through the 48000 line is still limited, and it is recommended to sell short call options to continue to hold
    .

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