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Today's Shanghai copper main contract 1610 contract oscillated for the third consecutive day, falling to 37620 yuan / ton at the end of the day, down 0.
45% from yesterday's closing price, indicating heavier
selling pressure above.
At present, Shanghai copper is still running on the oscillation finishing platform in the past week, and the long and short are facing a direction decision
.
Externally: Today's Asian Lun copper fell under pressure, of which 3-month London copper fell 0.
69% to 4835 US dollars / ton, the daily closing price hit a low since July 11 this year, the current London copper running at the intersection of moving averages, short-term operating range focus on 4950-4750 US dollars / ton
.
In the past week, Luncopper's position has increased and decreased, indicating that long and short trading has been repeated
.
Macro: The U.
S.
dollar index stabilized this morning, basically maintaining its overnight gains, now trading around 95.
4, but overnight U.
S.
crude oil futures contracts stopped falling and stabilized, rebounding sharply by 3.
65%, partially supported
by base metals.
Watch for the Bank of England interest rate meeting tonight, with further rate cuts expected
.
Market: Today's Shanghai electrolytic copper spot reported a premium of 30-170 yuan / ton, and the transaction price of flat water copper was 37640-37760 yuan / ton
.
Some holders in the spot copper market have raised their water significantly, keeping the price difference of various grades of spot copper at about
100 yuan.
Open a good copper premium of 150 yuan / ton
.
At this time, good copper is quickly digested by the market, flat water copper is relatively concentrated in inquiry, and the transaction of low-liter water sources is better
.
Despite the rising fear of heights, some holders are unabated in their willingness to push up the premium, and it is expected that the high space of the market will be hindered and transactions will become more difficult
.
Today's Shanghai copper 1610 contract oscillation fell to 37620 yuan / ton, under pressure from US crude oil futures, but in view of the relatively weak US dollar index and copper futures have not effectively broken through the recent oscillation finishing platform, it is recommended that short-term operations still need to be cautious, Shanghai copper 1610 contract can back above 37100 yuan to bargain long, entry reference 37350 yuan, target focus on 38500 yuan / ton
.
