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The price of the Shanghai copper index rose slightly at the beginning of the week by 51,800 yuan, opened sharply lower in the middle of the week to a low of 50,650 yuan, and rebounded again at the end of the week to 51,880 yuan, and finally closed at 51,620 yuan this week, up 10 yuan, or 0.
02%, and the weekly position of the index decreased by 12,206 lots to 766,000 lots
.
The LME copper price fell sharply to $6,710 at the beginning of the March copper week, and then rebounded, with prices rising to $6,927.
5 before falling under pressure, closing at $6,851.
5 as of writing, up $39.
5, or 0.
58%,
during the week.
This week's copper price main trading range is about 50640-51140 yuan / ton, the overall premium range is C70-B110 yuan / ton, this week facing delivery factors, the market good copper supply is tight to maintain the premium, the market is not willing to receive goods to make the transaction light
.
Copper prices maintained a high level on Friday morning, holders raised prices and caused poor shipments, and later market shipments increased, holders have lowered their premiums and improved trading after trading, and downstream replenishment purchases before the weekend, and the overall trading situation has improved
.
According to the survey results of the Shanghai Nonferrous Metals Trading Center, most traders see copper prices maintaining range-bound operation, and the premium will fall back to wait for delivery
.
Crude oil rose sharply during the week, and core inflation in the United States remained low, dragging the dollar index back, and copper inventories fell to their lowest level since the end of January, supported by many positive copper prices
.
In the short term, copper prices are still subject to macro uncertainties, or there may be relapses
.
From a technical point of view, the price on Weekly K runs on the upper part of the 60-week line, and faces the 20-week line suppression above; On the daily K, the Shanghai Copper Index MACD golden cross, KDJ golden cross, the price is subject to the upper 60-day moving average and gap pressure, short-term slightly resistant to decline or will continue to maintain range volatility
.
