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On Monday, the main 1708 contract of Shanghai copper opened at 45550 yuan / ton, after the opening of Shanghai copper under the pressure of short position increase, low to 45430 yuan / ton, as the central bank released liquidity, carried out 120 billion yuan of reverse repurchase operation, stocks and bonds doubled, base metals rose collectively, Shanghai copper bulls have poured in, copper prices have risen sharply to 45770 yuan / ton, subject to the upper 5-day moving average can not continue to rise, in the afternoon base metals except for Shanghai aluminum due to its own positive factors to push up, all falling, Shanghai copper bulls closed their positions and fell into the bag, and copper prices retraced, closing at 45680 yuan / ton at the small white line, up 110 yuan / ton
.
Intraday Shanghai copper first rose and then declined, in view of the sharp rise of London copper, Shanghai copper may be able to maintain a high opening oscillation
.
In terms of external trading, London copper opened at 5669 US dollars / ton, after the opening of London copper around the daily average of 5670 US dollars / ton after a slight consolidation, the central bank released liquidity, carried out 120 billion yuan of reverse repurchase operation, stocks and bonds double-rise, base metals rose collectively, copper prices were driven, the center of gravity moved up to around 5690 US dollars / ton consolidation, after touching the 5-day moving average, copper prices briefly tested low, near the daily average to get support, afternoon OPEC data showed that the implementation rate of oil producers in May production cut reached 110%, crude oil soared, Driving commodities up, copper prices broke through all moving averages, recording a high of $5,729/mt, and as of 17:56, London copper was trading at $5,715/mt
.
During the day, London copper rebounded sharply, the central bank released liquidity and crude oil prices rose sharply to benefit copper prices, beware of profit-taking risks
.
On the macro front, U.
S.
Treasury yields fell on Friday, and yields on yearly bonds slipped weekly this week after weaker-than-expected U.
S.
housing start data fueled doubts that the Federal Reserve would raise interest rates again for the rest of the year
.
Analysts said the data heightened
concerns about the underlying constitution of the U.
S.
economy.
In terms of the market, Shanghai copper fluctuated sharply, after entering the second half of June, some companies began to enter the settlement state, market participation decreased significantly, relatively quiet, morning holders want to narrow the current copper discount, helpless market recognition is low, then the mainstream still maintains last Friday's level of quotations, and there is a trend of expansion, the price of goods is strong, the discount is narrower than the beginning of last week, middlemen began to be subject to capital factors, the amount of market entry has decreased, downstream on-demand delivery, quiet trading, Monday characteristics are obvious
。 In the afternoon, the Shanghai copper rush fell back, the willingness of the holders to exchange cash was strong, the market was abundant, the holders lowered the discount to seek the transaction, flat water copper newspaper discount 130 yuan / ton - discount 100 yuan / ton, good copper newspaper discount 100 yuan / ton - discount 80 yuan / ton, the transaction price is 45430 yuan / ton - 45530 yuan / ton
.
During the day, the main 1708 contract of Shanghai copper rebounded weakly, the tail market closed at 45680, the short-term main support 44000, the rebound failed to break through the 46500 line, the transaction is recommended to rush high to continue to be short, short-term can be light to take long, 46500 line can continue to sell short
.
There is not much
space above and below.
