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Shanghai copper afternoon review on March 20

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Overnight Shanghai copper main 1905 contract opened high at 49390 yuan / ton, the opening was affected by the external market, copper prices short-term test 49500 yuan / ton, but then due to the strong bearish force, copper price performance failed to maintain stability at a high level, copper price center of gravity shock down to around 49350 yuan / ton, touched 49310 yuan / ton, the end of the session copper price continued to fall, the evening low 49230 yuan / ton, the evening close 49320 yuan / ton
.

Shanghai copper

Due to the impact of domestic tax differentials, spot goods are stable and firm, and the current market price rises and premiums are high, and the willingness of the market to receive goods is low
.
It is expected that today's Shanghai copper will be 49100-49700 yuan / ton, and the spot premium will be 800-1150 yuan / ton
.

Chile's Sierra Gorda copper miners may go on strike this week, so the latest conditions given by the former investor in the contract negotiations have been rejected; China's stimulus has been positive for construction and manufacturing, and Citi analysts said demand growth in China could improve in the coming weeks, and spot copper prices are expected to rise
slightly today.

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