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September 18 Shanghai copper brief commentary

 Last Update: 2022-12-12
 Source: Internet
 Author: User

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Today's Shanghai copper main 1811 contract opened at 48460 yuan / ton in the morning, short positions at the beginning of the session, copper prices climbed slightly to 48600 yuan / ton, and then along the 48570 yuan / ton line of narrow range.

In the afternoon, the bears reduced their positions, copper prices rose to the highest of 48680 yuan / ton in the day was blocked, short profit exit, copper price center of gravity moved down to 48520 yuan / ton, closed at the lowest of the day, closed at 48420 yuan / ton, up 180 yuan / ton, up 0.
37%.

Shanghai copper

South Reserve East China: average price of electrolytic copper: 48830 yuan, up 600, premium quotation: 200 to 230, up 295
.
Approaching the holiday, the holders are optimistic about the future market demand for high-priced shipments, buyers' willingness to receive goods is higher, the premium is rising rapidly, the downstream wait-and-see is the mainstay, the purchase is less, and the overall transaction is better
.
The mainstream trading pair of premium copper futures in the month premium 270-300 yuan, flat water copper premium 230-250 yuan, wet copper premium 190-200 yuan
.

South China Reserve: average price of electrolytic copper: 48870 yuan, up 540, premium quotation: 230 to 270, up 225
.
Low inventory and the existence of pre-holiday stocking expectations, spot premiums continue to remain at a high level after the month change, and receivers are afraid of heights and caution, in the morning low-price source transactions are relatively smooth, with the increase of shippers in the market and demand is met, the transaction begins to appear difficult, the second trading session, flat water copper premium further lowered, the overall transaction is not ideal
.
The mainstream trading pair of premium copper futures contracts rose by 270-280 yuan / ton, and the flat water copper premium was 220-230 yuan / ton
.

From a technical point of view, KDJ opening expanded, effectively breaking through the middle rail of the Bollinger track today, Shanghai copper has stood at the 48,000 yuan / ton mark as a whole today, touching the 40-day moving average at a high level, and the low rebound is obvious
.
In the evening, pay attention to the performance of long and short positions, pay attention to whether the bulls can take advantage of the victory and chase, and test the 40-day moving average
again.

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