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Today's Shanghai copper main 1711 contract stopped falling and stabilized, supported by the 60-day moving average, closing at 50,700 yuan, up 0.
6%.
The trading volume increased by 54,972 to 285,000, and the position decreased by 1,510 to 189,000
.
The top 20 domestic long positions in the 1711 contract reduced their holdings by 138 lots to 57898 lots; The top 20 domestic short positions reduced their holdings by 33 lots to 66850 lots
.
In terms of the market, today's Shanghai electrolytic copper spot contract reported a premium of 40 yuan / ton - 80 yuan / ton, flat water copper trading price of 50480 yuan / ton - 50640 yuan / ton, and premium copper trading price of 50500 yuan / ton - 50680 yuan / ton
.
In terms of stocks, COMEX copper stocks 191313 short tons as of September 15, an increase of 673 tons from September 14; LME copper stocks were 304,350 tonnes, up 28,325 tonnes from 14 September; As of September 18, the SSE futures inventory was 64,078 tons, down 1,058 tons
from the previous day.
China's copper production rose 0.
8 percent year-on-year to 749,000 tonnes
in August, data from China's National Bureau of Statistics on Monday showed.
Abroad, Chappy Hakim, former CEO of the American Freeport McMolyn Copper and Gold Mining Company, said that although the company has reached a landmark agreement with the Indonesian government, the Freeport still faces great challenges
in controlling the copper and gold mine.
The big question now is how much the shares sold will be valued and who will buy them
.
Copper prices were supported to stop falling on the early shock platform, and the continuous LME copper delivery behavior and the decline in black series increased the market long and short divergence
.
(CFTC) released a report showing that the fund's net long COMEX copper futures fell to 46,614 contracts in the week ended September 12, falling from the previous seven-month high, ending an eight-week winning streak
.
The spot price of Shanghai copper is relatively firm, and it still maintains a premium structure, which supports the copper futures price
.
As the panic caused by the delivery subsides, copper prices are expected to stop falling and stabilize, and copper prices may build a sideways consolidation trend
under the short-term long and short intertwined.
