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The Shanghai copper index opened at 50,030 yuan / ton yesterday, around the daily moving average after a slight fluctuation straight line to a maximum of 50,320 yuan / ton, touched the 5-day moving average, and then fell back to close at 50,190 yuan / ton, long exit, trading volume reduced to 195,000 lots, position decreased by 2,098 lots to 568,000 lots
.
At present, the macro aspect of Sino-US trade is basically exhausted, the domestic recently announced the RRR reduction news, and the announcement will promote the transformation of shantytowns, infrastructure investment in the fourth quarter is expected to increase, in addition, for exports, tax cuts stimulate exports, for domestic copper prices are good amplification, overseas and domestic copper inventories still maintain a downward trend, spot suppliers and downstream manufacturers have purchased to replenish stock, futures near delivery Back structure appeared, it is expected that Shanghai copper today 50,000 yuan / ton -50,500 yuan / ton, Spot trading is flat, the premium has fallen, and it is expected that today's premium will be 40-80 yuan / ton
.
The dollar rushed back down overnight, boosting the London copper shock to close higher; At the same time, the trend of the RMB weakened again after the holiday, and the onshore RMB fell below 6.
92, which also brought some support
to domestic copper prices.
However, the current emerging market exchange rate crisis has hit again, the US dollar high has repeatedly pressured, short-term copper price growth or limited, today's Shanghai copper material above 50,000 points oscillation, downstream bargain buying unchanged
.
