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Today's Shanghai copper range is mainly volatile, and the main Shanghai copper 2011 contract closed at 50940 at the end of the day, up 50, or 0.
1%.
Shanghai copper fluctuated around the previous pressure level of 51,000 during the day, and the market sentiment diverged near the November long holiday, superimposed on the imminent US election in the festival and the uncertainty of the epidemic in Europe and the United States, the market fell into a wait-and-see state
.
In terms of news, the US House of Representatives has discussed the $2.
2 trillion stimulus policy with the Treasury Secretary and may release a bill
on Monday.
The EU said it had begun drafting legal texts
for a trade deal with Britain.
Overnight, European and American central banks said that they would continue their easing policies, European and American stock markets rose sharply, and non-ferrous metals rose
across the board.
At present, the fundamentals of Shanghai copper maintain the logic of the previous period, and the subsequent demand point determines the price momentum in October, it is worth noting that the copper inventory in the previous period has shown signs of exit, and it is expected to pick up to support the copper price of 50,000 center of
gravity.
It is expected that Shanghai copper will maintain a range-bound trend in the overnight session, with a reference range of around
5.
05-51,500.
Operationally
, it is recommended to wait and see.
