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Shanghai copper afternoon review on October 17

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

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Overnight, Shanghai copper jumped high, opened at 50330 yuan / ton, around the daily moving average narrow finishing, long position reduction, price shock downward, down to the low of 50150 yuan / ton, and then slowly climbed to the daily average narrow range oscillation
.

Shanghai copper

Although the stock market showed signs of recovery yesterday, the pessimism of the market has not completely dissipated, and the year-on-year trend of China's PPI in September announced yesterday has also meant that the growth rate of corporate revenue and profit in the fourth quarter is facing a slowdown, suggesting that China is affected by the trade dispute with the United States, the domestic economy is under pressure, and the pressure on copper prices remains
.

In terms of spot, holding traders are forced by short-term inventory and capital pressure, and the willingness to take the initiative to exchange cash is strong, but downstream purchases are sluggish, and holders take the initiative to reduce the premium, but still shipments are weak, and market activity is not high
.
It is expected that today's Shanghai copper 50,000-50,500 yuan / ton, spot discount 60-discount 20 yuan / ton
.

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