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Today's Shanghai copper main contract 1609 contract oscillated stronger, rising to 37180 yuan / ton at the end of the day, up 1.
53% from yesterday's closing price, as copper prices climbed after releasing some pullback demand last week
.
In the external market, today's Asian London copper oscillation strengthened, partially cut overnight losses, of which 3-month London copper rose 1.
43% to 4811 US dollars / ton, the current London copper further stabilized above the M60 line, the lower support focus on 4750 US dollars / ton
.
In the past week, Duolun copper turned to increase positions to the downside, indicating that the long-short divergence has increased, but the bears have the advantage
for the time being.
Macro: The Asian dollar index soared back to around 96.
1, and short-term base metals reacted stronger to the weaker dollar than strengthened, and even once showed a simultaneous upward trend
.
In addition, the market focused on a series of economic data from China to be released on Friday, and the expected data was not performing well, which triggered market expectations
that the People's Bank of China will expand monetary policy.
In terms of market: today's Shanghai electrolytic copper spot report discount 20-liter 50 yuan / ton, flat water copper transaction price 36960-37100 yuan / ton
.
Open good copper report premium 50 yuan / ton, flat water copper flat water - premium 10 yuan / ton
.
However, traders intend to take advantage of the full discount to receive goods, and it is difficult to buy when the downstream market is above 37,000 yuan / ton, so the overall market activity is weak
.
Today's price cuts by holders are no longer hidden, and the current copper premium status before Friday's delivery is difficult to guarantee
.
Today's Shanghai copper 1609 contract oscillation closed up to 37180 yuan / ton, as copper prices returned to the rebound trend after releasing some pullback demand
.
Moreover, copper prices rose in tandem with the US dollar index, and the strong upward offensive in nickel prices also boosted the base metals market
.
It is recommended that the Shanghai copper 1609 contract can be backed by 36,800 yuan to bargain hunt, and the target is 38,000 yuan / ton
.
