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Shanghai copper afternoon review on May 30

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

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Overnight Shanghai copper main 1907 contract opened low at 46670 yuan / ton, after opening short-term high 46800 yuan / ton, the center of gravity quickly fell to 46630 yuan / ton, and then affected by the external disk, copper price performance upward test the daily average, after the short-term breakthrough, then has been under pressure, the center of gravity narrow range around 46670 yuan / ton, the end of the day bears continue to increase positions, copper prices continue to fall to the intraday low of 46560 yuan / ton, the center of gravity at the end of the session rose slightly, closing at 46640 yuan / ton, The evening decline reached 0.
36%.

Shanghai copper

Last night, dragged down by Sino-US trade sentiment and the inversion of U.
S.
bond yields, the market risk aversion increased, the dollar performance was volatile, and London copper hit a new low
in nearly four months.
Last night's macro sentiment deteriorated again, bears were strong, today's economic data is light, copper prices are expected to continue to be guided by market sentiment, and the recent performance is prone to fall and rise
.
At present, London copper and Shanghai copper have both fallen below all recent moving averages, and the technical support force is weak
.

Spot prices are expected to attract some downstream low-priced goods due to today's decline in market prices, so today's spot quotations are expected to be firm
after yesterday's irrational price hike by holders.
It is expected that today's Shanghai copper 46550-47000 yuan / ton, spot premium 30-liter 80 yuan / ton
.

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