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Shanghai copper afternoon review on August 28

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

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Overnight, the LME was closed, Shanghai copper was difficult to support, the night market opened high and low, opened at 48850 yuan / ton, the main low to 48660 yuan / ton, closed at 48710 yuan / ton, down 40 yuan / ton
.

Shanghai copper

The dollar continued to fall, breaking below the 60-day moving average to around 94.
68, it is expected that the short-term will remain weak, providing some space for copper prices to rebound, the yuan surge made the external performance stronger than Shanghai copper, the stock market yesterday repaired sharply, pessimistic expectations were alleviated in the short term, lead and zinc with the help of fundamentals to perform strongly, copper prices are expected to remain strong in the short term, but economic data remains to be seen, and the medium term can not relax vigilance
.

It is expected that the main range of Shanghai copper today is 48600-49000 yuan / ton
.
In terms of spot, the impact of imported copper is still there, coupled with the strengthening of traders' willingness to cash out at the end of the month, the premium continues to decline, but the magnitude is expected to slow down, and it is expected that today's premium will be 20-80 yuan / ton
.

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