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Shanghai copper afternoon review on October 12

 Last Update: 2022-12-13
 Source: Internet
 Author: User

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copper heavy metal

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Overnight, Shanghai copper jumped high, opened at 50230 yuan / ton, soon after the opening of the market pulled down to the lowest level of 50080 yuan / ton, and then boosted by macro bullishness, straight up to a high of 50600 yuan / ton, in the evening, the bulls left the market to give up gains, the plate pulled all the way down below the daily moving average, and then the bears took advantage of the low price to close the position, the market rose again
.

Shanghai copper

At present, U.
S.
bond yields have fallen, the United States announced that the CPI rose less than expected in September, inflation pressure cooled slightly, the basic trend of London metal picked up, in addition, the reduction of continuous inventories supported copper prices, the domestic side still expects the recovery of infrastructure in the fourth quarter, and the end of the year reserve orders in the terminal industry are optimistic, Shanghai copper is still trying to stand on the 10-day moving average, MACD red energy column slightly narrowed
.

In terms of spot, there are only two working days left before the contract trading day, the market has rebounded, and the current price spread has risen to 150 in the next month, and it is difficult for traders to try to pull up the willingness to raise the premium, and it is expected that the downstream replenishment situation will cool down again, and the downstream buying order will be suppressed, and the spot will be discounted 30-30
today.
It is expected that London copper is 6150-6280 US dollars / ton, Shanghai copper 50060-50650 yuan / ton
.

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