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Shanghai copper afternoon review on May 15

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

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Overnight Shanghai copper main 1907 contract opened 47490 yuan / ton, after the opening basically around the daily moving average oscillation, at the beginning of the session there was a high of 57560 yuan / ton, short-term high, copper prices quickly fell from the high, during the period although there was an attempt to test the trend, but failed to stop the decline, the end of the session to test the low 47390 yuan / ton, bulls in this position to take the opportunity to enter the market, low performance rebound, closed at 47500 yuan / ton, night up 0.
02%, Shanghai copper index volume 95918 lots, Holdings increased by 8,784 lots to 555,000
.

Shanghai copper

Yesterday, tensions in the Middle East escalated, key oil and gas facilities in Saudi Arabia were attacked, international oil prices rose rapidly, and the easing of market risk aversion boosted the collective red of nonferrous metals
.
Today's focus on China's April industrial added value year-on-year data, the expected performance is bearish, but at present, London copper and Shanghai copper are both supported by the lower Bollinger band, so the technical performance is
supportive.

Spot delivery today, quotation by the plate spread guidance, the current near-month contract spread maintained at 110 yuan / ton, market holders hope to continue to maintain premium quotations after delivery, so yesterday's market has appeared high premium quotations, from the transaction performance, high premium will inhibit some downstream purchases, so the price increase space is limited
.
It is expected that today's Shanghai copper 47300-47800 yuan / ton, spot premium 50-liter 150 yuan / ton
.

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