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Shanghai copper volatility this week, Shanghai copper index at the beginning of the week rose slightly to break through the year's high, Wednesday by the China Steel Association speech, the market collectively fell into adjustment, copper closed in the black line, Thursday began to bulls continue to exert force, Friday prices continued to rise to a high of 53,050 yuan
.
The week ended at 53,020 yuan, and the index weekly position increased by 4,814 lots to 712,000 lots
.
In terms of external trading, this week's LME March copper fluctuated all the way upward, after the early week rushed to a high of $6,500 after a slight retracement, Thursday night prices soared, Friday continued to rise high, the highest to $6,747, Friday domestic trading session closed at $6,729.
5
.
In terms of the market, spot copper prices began to rise all the way this week, downstream acceptance capacity is limited, buying is not good, except for Wednesday's copper price slight correction, downstream bargain replenishment, trading has been active
.
On Friday, spot copper prices jumped above 52,000 yuan / ton, due to the end of the month financial pressure, traders wait-and-see less mining, the overall trading was suppressed, the overall supply and demand of the market was slightly deadlocked, trading was still light
.
In terms of news, due to the recent Trump administration, the weak operation of the US dollar, accompanied by the continuous decline of inventories in the two cities, the import volume increased year-on-year, indicating that China's downstream consumption is strong, the market is confident in longing, and there is still a surge after the short-term madness, but pay attention to the risks
caused by too fast rise.
From a technical point of view, the KDJ gold cross diverged on the week k, the MACD gold cross, the price continued to stand above the 5-week moving average, and broke through the recent high, showing a strong show; On the day K, MACD golden cross, KDJ golden cross, short-term still have high momentum, beware of rushing back down
.
