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Today's Shanghai copper main contract 1708 bottomed out, but the rise was weaker than Shanghai aluminum, trading at 45770-45430 yuan / ton during the day, and closing at 45680 yuan / ton at the end of the day, up 0.
42% per day, indicating that its willingness to fall weakened
.
In terms of term structure, the copper market maintained a positive arrangement of near low and far high, and the positive price difference between Shanghai copper 1707 contract and 1708 contract widened slightly to 90 yuan / ton
.
In the external market, the Asian Lun copper oscillation rebounded, for the third consecutive day of oscillation stabilized, of which the 3-month London copper operating range of 5699-5658 US dollars / ton, up slightly 0.
42% to 5697 US dollars / ton, the technical support below focus on 5600 US dollars / ton, its technical form is slightly stronger than Shanghai copper
.
In terms of positions, on June 15, the position of London copper was 349,000 lots, a daily decrease of 972 lots, the second consecutive reduction in six days, last week Lun copper increased its position downward, showing that the bears regained their advantage, this round of position increase is mainly
short.
On the macro front, the Asian dollar index oscillated slightly, but has not recovered Friday's decline, now trading around 97.
2, the United States in May new housing started 1.
092 million units, down 5.
5% month-on-month, hit an eight-month low, and fell continuously, expected to increase by 4.
1%, data show that the recovery of US real estate slowed
。 In the copper industry, as of the week of June 13 this year, the long position of the US copper CFTC speculative fund increased by 10617, the short increase increased by 4545 lots, and the net position of speculation was 18798 lots, an increase of 6072 lots from last week, but maintained a net long state for the 33rd consecutive week, indicating that the short-term bullish willingness of speculative funds has rebounded
slightly.
In terms of the market, on June 19, Shanghai electrolytic copper spot traded at a discount of 110 yuan / ton - 60 yuan / ton for the monthly contract, a flat water copper trading price of 45300-45480 yuan / ton, and a premium copper trading price of 45320 yuan / ton - 45500 yuan / ton
。 After entering the second half of June, some companies began to enter the settlement state, market participation decreased significantly, relatively quiet, morning holders want to narrow the current copper discount, helpless market recognition is low, then the mainstream still maintains the level of quotation on Friday, and there is an expansion trend, the price of goods is small, the discount is narrower than last week, wet copper intermediaries began to be subject to capital factors, the amount of market entry has decreased, downstream on-demand delivery, quiet trading, Monday characteristics are obvious
.
Intraday Shanghai copper 1708 contract oscillation rebounded to 45780 yuan / ton, currently stabilized at the intersection of moving averages, indicating that its willingness to fall weakened, the current Shanghai copper part to make up for the gap since June 8, short-term facing long and short choices, operation needs to be cautious
.
In terms of operation, it is recommended that the Shanghai copper 1708 contract can sell high and low between 45500-46200 yuan, and the stop loss is 450 yuan / ton
each.
