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The overnight Shanghai copper 2002 contract closed at 48,830 yuan / ton, down 0.
67%, with a volume of 152,000 lots, and long positions reduced by 1,290 lots to 280,000 lots
.
Copper prices first fell and then rose last night, mainly because the market is now nervous after the opening of the British election, but Trump said that China and the United States are very close to reaching an economic and trade agreement, which strongly boosted market risk sentiment, gold plunged $20 in the short term, and U.
S.
oil stood above 59, which was positive for copper prices
.
On the macro front, the European Central Bank decided to keep interest rates unchanged in the early morning and maintain its ultra-loose monetary policy, and the current global liquidity easing is also conducive to the upward movement of copper prices; Official UK exit polls show that the Conservatives are expected to win the election by a landslide, the pound has soared 350 points, and copper prices are expected to continue to rise
.
At present, Shanghai copper is closing negative, supported by the 5-day moving average below
.
In terms of spot, as the market price continues to remain high, inhibiting market activity, and corporate demand gradually weakens due to the end of the year, the overall transaction weakening pattern makes it difficult for holders to hold prices, and it is expected that spot today will maintain a slight discount today
.
It is expected that today's Shanghai copper 48700-49200 yuan / ton, spot discount 10-liter 40 yuan / ton
.
