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On Monday, the main force of Shanghai copper opened at 42910 yuan / ton in the morning, and after the opening, the short position copper price jumped 250 yuan / ton to 43160 yuan / ton
.
Then around 43100 yuan / ton position sideways
.
Copper prices slowly climbed before midday, closing at 43170 yuan / ton
.
At the opening of the afternoon, bulls increased their positions one after another, copper prices fluctuated upward, and the highest point in the day was 43330 yuan / ton, and the center of gravity stabilized at 43270 yuan / ton
.
The end of the session closed at 43270 yuan / ton, up 270 yuan / ton, or 0.
63%.
In the external market, Apanlon copper opened higher at 5205 US dollars / ton, and showed a slight rise
after the open.
As soon as Shanghai copper opened, London copper jumped nearly $30 / ton, and then continued to rise to touch $5252 / ton
.
At this time, copper prices experienced a slight correction, running in the range of 5235-5255 US dollars / ton
.
Entering the European session, London copper jumped again to 5270 US dollars / ton, and the bulls supported copper prices to test the highest 5288 US dollars / ton
.
As of 17:00, London copper closed at $5278.
5/ton, up $93/ton, or 1.
79%.
In terms of the market, the Shanghai copper morning market opened low and directly pulled up to 43100 yuan / ton a line of shock, intraday change of month to 2006 contract quotation, morning traders inquiry active, holders quotation premium 150 ~ premium 170 yuan / ton, good copper can be a small amount to 150 yuan / ton, flat water copper pressure price to 140 yuan / ton transaction is active, the transaction atmosphere is slightly better than last Friday
.
Intraday market quotations remain firm, holders still intend to push up the premium, low premium sources are highly favored by the market, transactions are mainly based on traders receiving goods, and the trend of firm quotations will continue
.
In the afternoon, the market continued to rise slowly in the range of 43250-43300 yuan / ton, spot shippers decreased, inquirers showed proactive, it seems that the tight price is higher, the holder's quotation is firm, the transaction is acceptable, all the way to push up the premium, flat water copper premium 160-180 yuan / ton, good copper premium 170-190 yuan / ton, the transaction price is further pushed higher than 43380-43490 yuan / ton
.
Shanghai copper rose during the day, mainly because international oil prices continued to rise
sharply.
Oil prices extended last week's
rally as fuel demand expectations were boosted by the gradual easing of pandemic restrictions around the world, coupled with continued supply-side production cuts, with U.
S.
drilling companies cutting oil and gas rigs to record lows for the second week in a row.
Coupled with the continued easing of the global macroeconomic environment, market risk appetite has recovered, helping copper prices rise
.
The fundamentals have not changed
much.
At present, Shanghai copper closed in the sun, supported by the 20-day and 60-day moving averages below, and the KDJ opening continued to contract, and copper prices still have upward momentum from a technical point of view
.
Wait for the guidance of the external market to test whether Shanghai copper can continue to rush
upward.
