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    Home > Chemicals Industry > New Chemical Materials > October 8 Copper Market Brief Review

    October 8 Copper Market Brief Review

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    During the National Day long holiday, the high level of London copper fell back, today's holiday after the opening copper market to make up for the fall, Shanghai copper main morning market in the long position reduction gap low open at 50030 yuan / ton, at the beginning of the session in the bulls were forced to leave the market copper prices plummeted, quickly touched the intraday low of 49820 yuan / ton, in the morning in some short positions closed and a small number of long into the market, copper prices stabilized near the daily moving average, around 49920 ~ 50020 yuan between narrow finishing
    .

    Copper City

    In the afternoon, London copper rushed back to rise by 6200 US dollars / ton, Shanghai copper bulls concentrated into the market to increase positions, copper prices broke through the 50,000 integer mark in one fell swoop, touched 50240 yuan / ton, late afternoon some bulls profit exited, copper prices gave up most of the afternoon's gains, the center of gravity returned to the 50,000 mark, closed at 50,010 yuan / ton, up 40 yuan / ton, up 0.
    08%.

    The main position increased by 2,430 lots to 173,000 lots, and the trading volume decreased by 109,000 lots to 88,000 lots
    .
    The contract position in the current month decreased by 6310 lots, and the price difference between the next month and the current month narrowed to around
    200 yuan / ton.

    Today, the nonferrous metal sector as a whole has an inflow of 355 million yuan, but the Shanghai copper index has an outflow of 90.
    7 million yuan, mainly long flows
    .
    Shanghai copper continued its pre-holiday oscillation range and continued to be pressed on the 5-day moving average, and the MACD red energy column showed a weakening trend
    .
    Shanghai copper's performance is significantly more resistant to decline than the external market, waiting for the guidance of the external market in the evening to test whether Shanghai copper can hold the 50,000 yuan / ton mark
    .

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