The main force of Shanghai copper continues to rebound, and the decline is difficult to repair in the short term

Externally, LME copper rebounded after opening lower at $6,843 in March, rising as high as $6,947 in the afternoon, and retreating slightly at the end of the day, finally closing at $6,918.
5, up $56.
5, or 0.
82%.

In terms of the market, today's Shanghai Nonferrous Metals Trading Center (SME) spot copper price reported in today's Shanghai Nonferrous Metals Trading Center spot copper trading price at 51480-51680 yuan / ton, up 450 yuan / ton from the previous trading day, today's spot discount reported to c200-c400 yuan / ton, the market entered the pre-holiday market, downstream and traders are basically on holiday, the overall price is not in the market, trading is cold
.
According to the SME survey, some traders see that the market will temporarily stabilize
after that.

Yesterday evening, U.
S.
stocks rebounded sharply, coupled with the dollar index pullback below 90, the U.
S.
president announced a ten-year $1.
5 trillion infrastructure plan, the metal market has been boosted, copper prices began to come out of the shadow of the plunge and stabilize higher, spot into the pre-Spring Festival cold market, it is expected that Shanghai copper before the holiday to maintain a weak shock, the decline is difficult to repair
in the short term.
From the perspective of futures, the main MACD dead cross and KDJ dead cross of Shanghai copper, the price temporarily tested the 52,000 yuan integer mark, and continued to run
weakly in the short term.