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Market review, base metals generally rose on Monday, indicating that copper prices have recovered, and long and short trading is cautious
.
Among them, the Shanghai copper shock is strong, the CU1812 contract trading range is 50180-50580 yuan / ton, and the end of the day closed at 50510 yuan / ton, up 1.
08%
per day.
In the external market, as of 15:25 Beijing time, the three-month London copper was reported at 6320.
5 US dollars / ton, up 1.
58% on the day, and its upper pressure level was focused on 6400 US dollars / ton
.
In the market, Shanghai copper rebounded after the 5-day moving average was supported, and the copper price hovered at 50,500 yuan / ton during the day
.
Last week, some holders digested the new imported copper, last week copper inventory outflow increased, the import window continued to close after the National Day, this week the holders returned to the price situation, the morning market tried to fully premium quotation, good copper quotation premium about 30 yuan / ton, flat water copper reported flat water, but it is difficult to have the expected gradual reduction in the transaction, the transaction is concentrated in good copper premium 10-20 yuan / ton, flat water copper discount 20-discount 10 yuan / ton
。 There are many wet copper supplies in the market, and the downstream is facing the rebound of the plate, coupled with the very low willingness to raise the premium structure of the spot, and some holders have discounted 100 yuan / ton until about 11 o'clock and began to significantly expand the discount in exchange for cash
.
During the week, when it comes to the final delivery of this month's long order, the holder is reluctant to reduce the quotation excessively, and the willingness to raise the price is still strong
.
However, if the market continues to rise, the active buying downstream is still significantly suppressed
.
On the news, the Asian dollar index weakened, now trading around 95.
507, and on Friday the National Association of Realtors (NAR) announced that the total number of existing home sales in the United States in September was 5.
15 million annualized, the lowest since November 2015, and the market expected 5.
29 million units
.
In terms of industries, in September, the added value of industries above designated size increased by 5.
8% year-on-year, down 0.
3 percentage points
from August.
From a month-on-month perspective, in September, the added value of industries above designated size increased by 0.
50%
over the previous month.
From January to September, the added value of industries above designated size increased by 6.
4% year-on-year, and the growth rate was 0.
1 percentage points
lower than that of 1-8.
During the day, copper futures showed strong volatility, as the copper import window continued to close after the National Day, holders returned to a price trend this week, and the spot market was fully premium quotations, providing support for the period price
.
From a technical point of view, the futures price has risen back above the moving average combination, but the pressure on the previous high remains
.
Operationally, it is recommended that the CU1812 contract can consider choosing a short opportunity around 50,300 yuan / ton, and the stop loss refers to 50,000 yuan / ton
.
