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    Home > Chemicals Industry > New Chemical Materials > July 18 Shanghai copper morning review

    July 18 Shanghai copper morning review

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    On Friday night, the Shanghai copper 1609 contract opened high at 38700 yuan / ton, after the opening of the bulls drove to climb to a high of 38930 yuan / ton, and then directly fell back to around 38450 US dollars / ton, copper prices once again slightly rebounded to stabilize, and then the long-short combined force pulled copper prices down again to a high level, low 38120 yuan / ton
    .
    Finally, Shanghai copper closed at 38150 yuan / ton, down 270 yuan / ton, and the warehouse decreased by 4074 lots
    .
    On Friday night, Shanghai copper rushed back down, it is difficult for bulls to rush up again in the short term, the bears put serious pressure, today fell back to the 5-day moving average below the oscillation, it is expected that today's Shanghai copper will run
    within 37900 yuan / ton to 38250 yuan / ton.

    Shanghai copper

    Market: On July 15, Shanghai electrolytic copper spot 1608 contract reported a discount of 80-30 yuan / ton, and the trading price of flat water copper was 38220-38380 yuan / ton
    .
    In the morning, flat water copper reported a discount of 60 yuan / ton, speculators bought goods on the dip, and downstream and traders waited and waited for the market to stabilize
    .
    At 10 o'clock, after China's second quarter data came out, the market rose sharply by 200 yuan / ton, and the downstream began to buy goods
    on demand.
    In addition, because the 07 contract is about to be delivered, some traders with little capital pressure actively choose not to hold the goods, waiting for the premium to rise
    after delivery.

    Last Friday's night market Shanghai copper main oscillation fell to 38150 yuan / ton, due to the weekend mutiny in Turkey, market risk aversion climbed, the dollar index rose strongly, morning London copper continued to open low, intraday Shanghai copper faced pullback pressure, but its pullback strength should not be too pessimistic
    .
    It is recommended that the Shanghai copper 1609 contract can be backed above 37500 yuan to bargain long, the entry reference is around 37800 yuan, and the target is 38800 yuan
    .

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