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On Monday, the main 08 contract of Shanghai copper opened at 47460 yuan / ton, and after the opening, the long position increased short-term and the copper price rose by 80 yuan / ton, but then the short position increased to suppress the copper price to 47410 yuan / ton
.
At this time, the copper price rebounded, climbing all the way to the highest point of the day of 47710 yuan / ton
.
At this high level, the bearish force entered the copper price turned to 47490 yuan / ton, and then the long and short forces stalemated, and the copper price center of gravity stabilized at 47560 yuan / ton until the afternoon close
.
In the afternoon, the market trend was weak, Shanghai copper fluctuated down, touched the intraday low of 47280 yuan / ton after a slight rebound, at this time the bears took profits superimposed on the entry of long funds, copper prices rose slightly, and finally closed at 47470 yuan / ton, up 280 yuan / ton, up 0.
59%.
In terms of external trading, Apan Lun copper opened at 5807 US dollars / ton, driven by the rise in crude oil after the opening, London copper climbed all the way to 5861.
5 US dollars / ton, and then short positions increased, London copper fell slightly, around 5843-5856 US dollars / ton shock adjustment
.
In the afternoon, a large number of bears entered the market, London copper fell to around 5819 US dollars / ton, leading to a flat long entry, London copper quickly rebounded and maintained the rally, climbing all the way to the highest point of the day of 5879 US dollars / ton
.
As of 17:00, London copper closed at $5,864/ton, up $54/ton, or 0.
93%.
This was mainly due to heightened concerns about tight global copper supplies
.
Chile due to the impact of the new crown epidemic, Chile's national copper company said that it will suspend construction projects in the north, the market is worried about the intensification of copper supply and demand contradictions, boosting copper prices
.
In terms of the market, Shanghai copper rose strongly, rising to 47,700 yuan / ton in the day, an increase of more than 400 yuan / ton
.
Market spot continued to hold stable quotations on Friday, flat water copper premium 180 ~ 190 yuan / ton, flat water copper low price premium 170 yuan / ton continue to be favored by the market, but the low price supply is small, most of them rely on the price of transactions, good copper premium 180 ~ 200 yuan / ton, flat water copper transaction enthusiasm is better than good copper, wet copper quotation in the premium of 130 yuan / ton
.
The rise in copper plate intensified, almost 48,000 yuan / ton, downstream fear of heights to keep on the sidelines, no active buying, holders of quotations also unchanged, some traders have low prices, but the pressurable space is limited, supply and demand sides are obvious
.
In the afternoon, the pressure center of gravity of the plate fell slightly around 47450-47550 yuan / , the spot premium quotation remained stable, flat water copper premium 170-180 yuan / ton, good copper premium 190-200 yuan / ton, the transaction price fell slightly to 47640-47760 yuan / ton
.
The Shanghai copper shock fell during the day, mainly due to the cold
macro sentiment.
At present, the number of confirmed cases of the global new crown epidemic continues to rise to close to 9 million, the possibility of the outbreak of the second epidemic has cast another shadow over the prospects of economic recovery, and the LPR of 1 year and more than 5 years announced by China's central bank is the same as the previous period, the economic stimulus policy has slowed down, and investors' risk aversion has rebounded, which has limited the rise in copper prices to a certain extent
.
Fundamental news supported copper prices, Chile's national copper company (Codelco) said that due to the impact of the new crown epidemic, will suspend construction projects in northern Chile, the market is more worried about copper supply tightness, to some extent support copper prices are still running high
.
The main force of Shanghai copper fell during the day, and the KDJ upward opening contracted, but there were still multiple moving averages below to support
.
Wait for guidance from the outside to test whether the bulls can once again support the Shanghai copper upswing
.
