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This week's Shanghai copper index first fell and then rose, at the beginning of the week by the China Steel Association and the impact of the increase in rebar fees, the market collectively fell into adjustment, the Shanghai copper index fluctuated in the range of 50,000-50,500 yuan, Thursday began to have more force, driven by the leading Shanghai zinc multiple varieties of up and down, the copper market rose sharply, the highest rose to 51920 yuan, Friday the price once fell sharply after falling to Thursday's starting point, but the afternoon continued to rebound
under the black drive.
In terms of external trading, this week's LME March copper week began to adjust slightly from the high to $6355, Wednesday a long white line directly broke through a week ago high, Thursday rushed up to $6580 after falling, but after Friday's low price continued to rebound to complete the anti-package, Friday domestic trading session closed at $6506, up $79, or 1.
18%.
In terms of the market, the copper delivery market at the beginning of the week waited for post-delivery operations, the transaction was light, and the spot copper returned to the state of large discount after Tuesday's delivery, the market continued to wait and see, copper prices began to jump on Thursday, traders and next week to buy up or not buy down, trading is active
.
On Friday, the downstream was looking for low-priced sources, and spot copper prices fell sharply before the weekend, attracting downstream bargain-hunting replenishment, and traders were also active in trading, and the overall transaction atmosphere was better
.
In terms of news, the recent strong momentum of the metal plate is prone to linkage effects, especially on Friday, when the metal generally opens low and the depth adjustment is adjusted, the black series broke through in one fell swoop, and the sharp rise drove the colored varieties to bottom out.
During the week, the bulk market followed the trend in the bullish atmosphere of funds and the market, speculative enthusiasm was high, and there was still a surge after the short-term madness, but pay attention to the risks
caused by too fast a 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 will gold, KDJ gold cross, there is still high momentum after the short-term pullback, or will continue to break through
after the momentum in the near future.
