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Last Friday, the internal and external trading fell sharply in the evening, and the Shanghai copper gap opened low and went low, and the lowest fell to 45760 yuan / ton, down 1.
46%.
The Shanghai Copper Index surged by 35,000 lots to 642,000 lots, mainly reflected in the increase in short positions
.
Last Friday's sharp decline was mainly due to the United States once again threatening to impose tariffs on Chinese imports, and non-ferrous metals fell
sharply.
At present, mainly affected by the increase in Sino-US trade uncertainty, the market risk aversion is strong, while the July non-farm payrolls data released by the United States is slightly less than expected, the market further speculates about the probability of further interest rate cuts in September, the global economic weakness trend continues further, the economic status quo superimposed on trade frictions, unfavorable copper prices higher
.
The fundamentals are still relatively light, and there is no clear support
for the rise of Shanghai copper.
At present, Shanghai copper closed the solid big negative column, the lower Bollinger rail, the KDJ indicator is bearish and expanded, and the technical bearish is obvious
.
In terms of spot, the current import ratio has been repaired, and it is necessary to be vigilant about imported copper entering the domestic market, which is expected to suppress
the current high premium.
Today's market prices fell sharply, and the sentiment of holders remained strong until imported copper entered the country, and low prices are expected to increase market activity
.
It is expected that today's Shanghai copper 45700-46200 yuan / ton, spot premium 50-liter 90 yuan / ton
.
