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Overnight Shanghai copper 1903 contract opened at 47730 yuan / ton, the opening peaked at 47740 yuan / ton, and then copper prices fell all the way to 47640 yuan / ton around high-frequency oscillation, the overall pressure daily moving average, during the low touch 47560 yuan / ton, high touch 47700 yuan / ton, then the bears increased their positions again, copper prices fell rapidly, down to a low of 47380 yuan / ton, the low narrow narrow range after finishing rebounded to around 47620 yuan / ton, closing at 47600 yuan / ton
.
In terms of spot, spot is close to contract delivery, holders are actively shipping for cash, yesterday's market has appeared a discount good copper supply, it is expected that today is likely to enter a full discount
.
It is expected that today's Shanghai copper 47400-47900 yuan / ton, spot discount 40-flat water
.
Last night, the Fed's hawkish vote committee said that this year or two interest rate hikes, lower than previously expected, the dollar fell sharply, copper prices were supported
to some extent.
However, the Sino-US trade negotiations that ended yesterday have not yet produced actual good news and have not boosted the market
.
Coupled with the off-season of consumption around the Spring Festival, copper prices rebounded limitedly, and Shanghai copper still fluctuated around
47,500.
Merchants keep their shipments unchanged at high prices, and the downstream just needs to buy
.
