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Today's Shanghai copper main contract 1609 contract under pressure overnight rally, once touched 39210 yuan / ton, close to the intraday limit board 39280 yuan / ton, late rise strongly to 38580 yuan / ton, up 3.
77%
from yesterday's closing price.
The daily closing price hit the highest since March 18 of the year
.
In the external market, today's Asian Lun copper climbed strongly, for the third consecutive day higher, of which 3-month London copper rose 1.
3% to 4948 US dollars / ton, the highest touch of the day 5032 US dollars / ton, a new high since April 29 this year, the current London copper effectively running above the moving average group, the lower support focus on 4850 US dollars / ton
.
Macro: The Asian dollar index oscillated slightly, now rising to around 96.
6, short-term base metals reacted stronger to the weakening of the dollar than strengthened, and even once showed a trend of the same rise
.
In addition, China's exports climbed 1.
3% year-on-year in June, stronger than expected and prior, while imports fell 2.
3% year-on-year, worse than expected and prior, indicating an improvement in external demand and a decline
in domestic demand.
Market: On July 13, Shanghai electrolytic copper spot reported a discount of 40-liter water 40 yuan / ton, and the transaction price of flat water copper was 38080-38900 yuan / ton
.
Near delivery, holders have quoted on the 1608 contract, opening on 08 good copper premium 50 yuan / ton, flat water copper flat water, but the downstream continues to buy high-priced copper
.
After the start of the second session, the market continued to rise, and the remaining traders were also holding back
.
Speculators in early trading wanted to cash in on profits, causing the spot market to sell, but the high trading price was suppressed, and the number of cautious waiters increased
.
Today's Shanghai copper 1609 contract rose strongly to 38580 yuan / ton, as the new British prime minister took office, the impact of Brexit concerns declined, while China's short economic data brought economic stimulus expectations
.
At present, Shanghai copper chooses to attack, short-term or continue the strong trend, it is recommended to actively buy at the pullback, 1609 contract can be backed above 38,000 yuan, the target is 39,500 yuan / ton
.
