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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper morning review on May 9

    Shanghai copper morning review on May 9

    • Last Update: 2022-12-10
    • Source: Internet
    • Author: User
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    Overnight, the main 1807 contract of Shanghai copper was dragged down by the external disk, jumped downward, opened at 50800 yuan / ton, the beginning of the session along the daily moving average oscillated operation, and then affected by the twists and turns of the Iranian nuclear news, the low rebounded, as low as 50460 yuan / ton, rose back to 51120 yuan / ton line, the end of the day fell slightly, closed at 51040 yuan / ton, down 360 yuan / ton
    .
    The warehouse increased by 8,044 lots to 212,000 lots
    .

    Shanghai copper

    Federal Reserve Chairman Powell released hawkish remarks to stimulate the dollar index to break through the 93 mark, the US index has risen for three consecutive days and updated a new high for the year, overshadowing the positive impact of China's trade data, coupled with the US will withdraw from the Iran nuclear deal pushed up market risk aversion, pressure on the metals market, it is expected that Shanghai copper will continue to run weakly today, spot copper prices fell
    slightly.

    The US dollar index is obviously strong, domestic metals are under pressure and generally falling, Shanghai copper performance gap fell below 51,000 yuan support, inventory fell sharply, coupled with China's April import and export significantly improved, near the close to re-stand at the 51,000 yuan mark, technical resistance for the time being, is expected to continue today's Shanghai copper continuation of narrow volatility
    .

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