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Overnight, the main 1710 contract of Shanghai copper gapped, opened low at 52530, opened sharply higher at the highest point of 52960 yuan, and then the price fell back to near the flat under pressure, and the price fell as low as 52560 yuan, and then maintained a narrow range
.
It finally closed at 52,670 yuan, up 20 yuan, or 0.
04%.
Externally, LME copper suddenly pulled up $6,872 sharply after the Asian market closed yesterday, and then the price fell back under pressure, falling to near $6,776 in flat trading, closing slightly rebounded, closing at $6,815, up $39, or 0.
58%.
In terms of the market, with the recent rapid rise in copper prices, to a certain extent, downstream consumption has been inhibited, and the phenomenon of off-season is still obvious, but downstream terminal demand is still not good, and the trading volume is still not large
。 Holders are more active in price shipments, because the market is bullish and confident, the performance is slightly reluctant to sell, downstream users due to the end of the month financial pressure has not eased, demand is suppressed, more to maintain just need to purchase, because the overall inventory continues to decline, the overall replenishment demand increases, still favor low-priced sources, most holders have adjusted the price of shipments, but the downstream fear of heights mentality affects the transaction, there are still some price pressure phenomenon, the overall transaction is restricted, today Guangdong electrolytic copper transaction discount continues to be slightly reduced, the willingness of holders to ship is reduced, Trading has not improved
.
In the scrap copper market, the supply of high-quality recycled copper is more scarce, holders have chosen to sell at high prices, downstream users are generally wait-and-see due to strict environmental protection, procurement has become cautious, and the overall trading of the market has not improved significantly
.
On the technical side, Shanghai copper main KDJ dead cross, MACD gold cross will die and have a divergence trend, the market is still in a bullish trend, the price rushed BOLL online band failed to open high and low again, continue to face adjustment risks, but the overall easy to rise and fall
.
