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Shanghai copper afternoon review on May 16

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

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Overnight, the main 1907 contract of Shanghai copper opened at 47550 yuan / ton, bottomed out at the opening, and then affected by the external market, the short position closed and left the market, copper price performance steadily fluctuated and rose, the end of the session rushed up 47920 yuan / ton, closed at 47740 yuan / ton, up 0.
02%
in the evening.
The trading volume of the Shanghai Copper Index was 107,000 lots, and the position decreased by 15,614 lots to 555,000 lots
.
At present, affected by the easing of sentiment between China and the United States, the market risk aversion has been digested, and the performance of the colored sector has collectively risen
.

Shanghai copper

At present, copper prices are still dominated by macro, and the fundamentals are subject to centralized maintenance of domestic smelters, resulting in tightening on the supply side, which has a certain support
below copper prices.
Today's macroeconomic data is light, and it is expected that it will be difficult to break the $6,100/ton and 48,000 yuan/ton marks above London copper and Shanghai copper, respectively
.

After yesterday's delivery, the market has appeared to quote the next month's contract, and the current willingness of the holders to rise to the water is strong, and the market is actively
trading.
It is expected that today's London copper 6050-6100 US dollars / ton, Shanghai copper 47500-48000 yuan / ton, spot premium 20-liter 100 yuan / ton
.

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