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Today, the main 1710 month contract of Shanghai copper opened high at 53280 yuan today, and then the price was under pressure early high shock, and the copper price suddenly fell sharply to the lowest 52620 yuan in the afternoon, and the price fluctuated in a narrow range before the close, closing at 52720 yuan, down 390 yuan, or 0.
73%, and the index position decreased by 10340 lots to 647,000 lots
.
In the external market, today's LME March copper opened in a narrow range around $6923, and the price adjusted deeply in the afternoon, falling to $6855, after which the price fluctuated at the bottom, and the final price closed at $6867.
5, down $55.
5, or 0.
80%.
In terms of the market, the market trading in the mainstream trading session in the morning is poor, and the supply of spot copper is difficult to improve in the short term, so the quotation of holders is still firm, the premium space of merchants continues to rise, the spot copper premium continues to narrow to 0-b70 yuan / ton, the holder is actively shipping, the downstream procurement is weak after the copper price rebounds in the morning, the holder is forced to reduce the price of shipments, the transaction is not optimistic, and the market fell into the wait-and-see
after the afternoon plunge.
Today's purchase transactions were dominated
by wet copper.
SME research shows that most traders continue to look at the copper market in the late period
.
In terms of news, in the afternoon, driven by the decline in black, there was a collective weakening phenomenon in nonferrous metals, and Shanghai copper showed a downward phenomenon of reducing positions, but the overall decline was limited, and the copper market was about to usher in the consumption season after environmental protection, and the strong fundamental pattern was still supported
.
From the perspective of futures, MACD dead cross, KDJ dead cross, Shanghai copper main force fell below the 10-day moving average today, but the lower platform finishing place support is strong, it is expected to have strong support around 52,000 yuan, short-term or maintain at a high level of volatility, continue to pay attention to downstream procurement
.
