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Shanghai copper afternoon review on August 13

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Last night, the overall performance of the internal and external trading fluctuated and weakened, Shanghai copper tested a low of 46,500 yuan / ton in the evening, and the Shanghai copper index position increased by 144 lots, mainly
short positions.
Last night, as the trade dispute intensified concerns about global economic growth and exchange rate volatility, the market preferred safe-haven gold, and copper fell back on China's July social finance data and M2 money supply y/y rate
.

Shanghai copper

At present, the market is worried that the Sino-US trade conflict will aggravate the recession, resulting in increased market risk aversion, gold prices continue to maintain stability at a high level, and the macro environment is weaker, which is not conducive to copper prices rising
.
In terms of fundamentals, domestic consumption is still weak, and there is no sign of positive Shanghai copper in the short term, and copper prices are expected to remain weak
today.
At present, Shanghai copper closed negative, above under pressure Bollinger mid-band and 60-day moving average, technical performance bearish
.

Spot near-term quotations will fluctuate around the exchange delivery level, premium remains high, holders in the import of copper before a large number of into the domestic market, strong willingness to hold the price, last night the plate price weakened slightly, market trading sentiment expectations slightly improved
.
It is expected that today's London copper 5730-5770 US dollars / ton, Shanghai copper 46500-46800 yuan / ton, spot premium 30-liter 70 yuan / ton
.

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