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On Friday, the Shanghai copper 1701 contract opened at 48330 yuan / ton, after the opening of the long liquidation, Shanghai copper shock downward, giving up overnight gains, the low recorded 47400 yuan / ton, and then the bears made up for the low, leading copper prices to rise at a low level, but the daily moving average must not be reversed, and the end of the day was under pressure on the daily moving average consolidation, closing at 48100 yuan / ton at the small white line, up 790 yuan / ton
.
Intraday Shanghai copper wide range shock finishing, long and short are mainly closed positions, market trading is light, it is expected to still do high finishing
in the short term.
In terms of external trading, London copper opened at 5893.
5 US dollars / ton, and during the Asian session, London copper bulls pulled copper prices up to 5914 US dollars / ton, turned away after a false shot, copper prices plunged sharply, testing down 5804 US dollars / ton
.
Bears low covering, leading copper prices to rise to the daily average of 5865 US dollars / ton repeated consolidation, into the European session, copper prices again low to 5835 US dollars / ton after rising, as of 17:55, London copper reported 5871 US dollars / ton
.
During the day, London copper fluctuated widely, the Western Thanksgiving US market was closed, speculative capital activity decreased, and London copper is expected to maintain a volatile trend
.
On the macro front, the dollar fell, and crude oil fell
.
After falling below the 6.
90 mark on Thursday, the renminbi fell further below the 6.
91 mark against the dollar on Friday, falling for the third consecutive day
.
Federal Reserve Chair Yellen said at the hearing that the economy has made further progress, the presidential election will not change the process of interest rate hikes, and interest rate hikes may come relatively quickly; will not resign before the end of the term; The Trump administration is advised to be cautious
in pursuing fiscal stimulus.
Yellen believes there is a lot of uncertainty
about relevant policies.
The message is empty
.
In terms of the market, the Shanghai copper high fell, giving up part of the gains in the night session, the quotations of holders were relatively firm, slightly narrowed from yesterday's discount, the supply of flat water copper and wet copper was more abundant, intraday speculators lacked room to operate, and before the weekend and the copper price adjustment, a small number of downstream began to receive goods, and the transaction was general
。 In the afternoon session, copper is backed by the daily moving average, due to limited disk fluctuations, the market inquiry is not active, and on weekends, trading is more light, flat water copper report discount 150 yuan / ton - discount 130 yuan / ton, premium copper discount 130 yuan / ton - discount 110 yuan / ton, the transaction price rose slightly to 47850 yuan / ton - 48090 yuan / ton
.
In the short term, the dollar continued to strengthen, the Thanksgiving market traded lightly, in order to prevent the "Black Friday" curse from happening, investors took profits and left the market
.
In the future, the divergence of the trend between the varieties of the colored plate may intensify, and it is recommended to be cautious and wait and see for
the time being.
