Copper prices rose strongly, enhancing the confidence of bulls

In the external market, the Asian market London copper oscillation rose slightly, of which as of 16:06 Beijing time, the three-month London copper was reported at 7154 US dollars / ton, up 0.
51% on a daily basis, and is currently effectively running above the moving average group, hitting a high since February 22 this year
.
In terms of positions, as of June 4, the position of London copper was 316,000, a daily decrease of 1,331 lots, and the position of London copper has increased and decreased in the past week, showing that long and short trading is cautious
.

On the macro front, the Asian dollar index continued to fall under pressure, falling further to around 93.
6 as the risk of political turmoil in Italy eased, while the dollar index suffered a technical pullback, giving further momentum to the base metals to rise
.
In terms of industry, it is reported that the environmental protection group has entered Jiangxi, and the scrap copper smelter has been shut down
.

In terms of the market, on June 6, Shanghai electrolytic copper spot reported a discount of 60 yuan / ton - flat water - flat water for the current month's contract, and the trading price of flat water copper was 52520-52580 yuan / ton
。 Non-ferrous metals across the board are red, the increase in copper positions rose by more than 700 yuan / ton, although the price difference in the next month expanded to about 200 yuan / ton, but the holders have ignored, the willingness to ship for cash is high, the morning market is reported to be good copper flat water or so, flat water copper discount 50-40 yuan / ton, with the traders into the market to reduce the price, soon the market is fully discounted and all the way expanded, good copper in the morning more in the discount of about 20 yuan / ton concentrated transaction, flat water copper can be pressed to discount 60 yuan / ton, noon end can even be pressed price to discount 70 yuan
。 Copper prices ushered in a sharp rise, standing at 52,000 yuan / ton, but the market reversed the characteristics
of strong and weak.
The downstream is seriously afraid of heights, and most of the purchases are low-priced sources for traders, and the preference is that good copper is still used for long-term delivery
.

During the day, the Shanghai copper 1808 contract closed strongly at 53320 yuan / ton, effectively running above the moving average group, enhancing the confidence of bulls, mainly boosted by the weakening of the US dollar and copper mine negotiation concerns
.
In operation, it is recommended that the Shanghai copper 1808 contract can be backed above 52,700 yuan to bargain price, enter the market around 53,000 yuan, and target around 53,600 yuan
.