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Today's Shanghai copper main contract 1608 contract fluctuated sharply, the overall oscillation decline, the trading range of 36750-35940 yuan / ton, the end of the close at 35940 yuan / ton, down 0.
88% from yesterday's closing price, copper fell back below M60, the lower support focus on 35500 yuan / ton
.
In terms of external trading, today's Asian market London copper fluctuated sharply, the overall oscillation decline, of which 3-month London copper fell 1.
89% to 4681 US dollars / ton, the performance is weaker than Shanghai copper, the current London copper fell back to the low oscillation finishing range in the past seven weeks, showing that the upper selling pressure is heavier
.
In the past week, Luncopper has mainly reduced its position, showing that long and short trading is cautious and temporarily reduces its position and leaves the market
.
Macro: Today's Brexit results announced, Brexiteers unexpectedly won, financial markets ushered in a sharp shock, the dollar index soared, the pound against the dollar once fell to a new low since 1984, European stock markets opened sharply, in this context, although base metals are under pressure to decline, but the overall decline is relatively limited, intraday also need to pay attention to the performance of
base metals in Europe and the United States.
In addition, the market is focused on the results of this Friday's referendum, which, according to the latest polls, is slightly better than Brexit
.
In terms of market: on June 24, Shanghai electrolytic copper spot reported a premium of 80-120 yuan / ton, and a flat water copper transaction price of 36030-36530 yuan / ton
.
Today, holders continue to maintain stable premium quotations, but the spot copper price above 36,500 yuan / ton is rarely recognized by the market
.
With the opening of the second trading session, the quotation atmosphere became cooler, the Brexit referendum showed that the proportion of Brexit exceeded 50.
9%, and the Shanghai copper closed by more than 500 yuan
.
However, the spot market is unexpectedly quiet, the premium is still stable at 80-120 yuan / ton, the transaction price has fallen by more than 500 yuan earlier, the market attention has shifted, and the spot has been lacking
.
Overall, today's Shanghai copper 1608 contract fell under pressure to 35940 yuan / ton, back below M60, and the market has not fully digested the Brexit event, short-term decline risks remain.
It is recommended that the Shanghai copper 1608 contract can be backed by 36,700 yuan at a high altitude, and the entry reference is around 36,300 yuan, with a target of 35,000 yuan / ton
.
