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Today's Shanghai copper main contract 1701 contract continued to rebound, quickly closed at 43910 yuan / ton after the opening, and the daily closing price hit a high since May 29 last year
.
At present, the main contract of Shanghai copper has effectively stabilized above the moving average group and entered an accelerated upward stage
.
In terms of term structure, the Shanghai copper 1612 contract and the 1701 contract showed a positive price difference of 50 yuan / ton, indicating that the forward contract has a strong
willingness to rise.
Externally: Asian market London copper accelerated its rise, of which 3-month London copper is now up 3.
33% to 5600 US dollars / ton, and the upper rebound resistance focuses on 6000 US dollars / ton
.
It is now at a new high
since July 3 last year.
In terms of positions, on November 8, the position of London copper was 351,000 lots, an increase of 7,010 hands per day, which is a sixth consecutive increase, and the increase in London copper positions in the past three weeks has risen, indicating that the rise in copper prices has funds to advance, and bulls are enthusiastic about
longing.
Macro: The Asian dollar index fell under pressure, now down 0.
17% to around 98.
4, as the market gradually accepted the fact that Trump won and expected that it will increase US infrastructure in the future
.
At present, the market has a strong long atmosphere, and the financial attributes of the copper market dominate
.
In terms of industry, as of November 9, LME copper stocks reported 282,600 tons, a daily decrease of 9,025 tons, for 15 consecutive trading days, short-term London copper stocks continued to decline, increasing the chips of long positions
.
Market: On November 10, Shanghai electrolytic copper spot contracts reported a premium of 650 yuan / ton - 1100 yuan / ton, and the transaction price of flat water copper was 44600-44950 yuan / ton
.
The major contracts of Shanghai copper rose across the board, and the import loss increased, making it difficult for spot holders to cope for
a while.
Later, the holders of goods shipped one after another, partly due to the amount of import losses, and the quotation soared to more than
1,000 yuan / ton.
The other part only approves the current copper premium quotation with customers, and the general quotation is 100 yuan / ton - 200 yuan / ton
of premium.
After the sharp rise in copper futures, the spot market gradually began to show signs
of lack of follow-up.
Intraday Shanghai copper 1701 contract strongly sealed at the price limit board 43910 yuan / ton, short-term copper market long atmosphere is strong, attracting funds to actively enter, any bullish factors will increase the long chips
.
Technically, at present, Shanghai copper is still effectively running above the moving average group, the upward trend of copper prices is still good, and London copper increased its position, indicating that funds are actively following
.
In terms of operation, it is recommended that the Shanghai copper 1701 contract can be backed above 42800 yuan, and the entry is concerned about around 43500 yuan, and the target is 45000 yuan / ton
.
