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On Monday, the main 1708 contract of Shanghai copper opened at 46490 yuan / ton, after the opening of Shanghai copper first suppressed and then rose, the early long profit taking, reduced the position of more than 3100 lots, the lowest touched 46170 yuan / ton, short short closed out, and finally closed at 46370 yuan / ton, increased the position by 3610 lots, and the position decreased by 35,000 lots
.
Shanghai copper ran smoothly during the day, and it is expected that Shanghai copper will consolidate
around the upper rail.
In terms of the external market, London copper opened at 5823 US dollars / ton, after the opening of London copper shock fall, the lowest touch 5796 US dollars / ton, as of 17:40, London copper reported 5796 US dollars / ton, crude oil reported 45.
95 US dollars / barrel, US dollar reported 97.
124, intraday news is light, London copper to do a high pullback trend, is expected to continue to pull back in the later period, giving up the previous too fast gain
.
In terms of the market, Shanghai copper continued to rise sharply, the value preservation disk was further trapped, the holder opened at the beginning of the wait-and-see, the quotation was very late, and then wanted to further pull up the copper premium to make up for the loss, helpless market trading dismal, coupled with some speculative sources to sell and ship at low prices, and close to mid-June most of the company's financial pressure began to appear, the copper premium quickly narrowed to near the level of last Friday, the middleman did not see obvious entry into the market, the downstream on the copper price rebound wait-and-see attitude, the market showed Monday characteristics
。 In the afternoon, the market transaction was light, the liter discount was loose, flat water copper reported 20 yuan / ton - flat water, good copper reported flat water - liter 20 yuan / ton, the transaction price was 46060-46220 yuan / ton
.
On the news front, long-term U.
S.
Treasury yields rose to a one-week high on Friday as investors consolidated their positions
ahead of next week's new bond auction and the Federal Reserve's meeting of the U.
S.
Federal Reserve.
The Fed is widely expected to raise interest rates
.
Investors also expect the Fed to raise interest rates
again at its two-day policy meeting, which ends next Wednesday.
The dollar rose against a basket of major currencies on Friday, helped by the pound tumbling
after Prime Minister Theresa May's Conservative Party failed to secure a parliamentary majority in the general election.
The three-month LME copper closed up 1.
3 percent at $
5,804 a tonne.
The main 1708 contract of Shanghai copper rebounded during the day, closing at 46370
.
Short-term main support 44000, short order last week take profit, the current recommendation above 46500 light short selling, it is expected that the rebound height is limited and cannot be sustained
.
