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    Home > Chemicals Industry > New Chemical Materials > October 16 Shanghai copper morning review

    October 16 Shanghai copper morning review

    • Last Update: 2022-12-07
    • Source: Internet
    • Author: User
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    Overnight, the main force of Shanghai copper 1712 performed strongly, breaking through the front wheel high in one fell swoop
    .
    Open at 53420 yuan / ton, the beginning of the session around 53500 yuan / ton narrow range, then in the black series of strong drive began to rise, to a high of 53750 yuan / ton, then some bulls closed the position, copper prices fell sharply to 53200 yuan / ton, the end of the session upward repair, and finally closed at 53450 yuan / ton, warehouse increased 448 hands to 209,000 hands
    .

    Shanghai copper

    In terms of the market, as of 2017-10-12, the spot price of SMM1# electrolytic copper was 53,525 yuan / ton, up 845 yuan / ton from the previous day, and 170 yuan / ton higher than the near-month contract, close to delivery, the willingness of holders to exchange cash strengthened, and the number of dumpers increased, but the copper price market that completely jumped above 53,000 yuan / ton appeared afraid of heights, and there were few responders, so the spot premium opened the downward mode
    .

    In terms of news, China's macro data is generally good, M2 growth rebounded for the first time in eight months in September Social finance and new RMB loans exceeded expectations, import and export data reflected strong domestic and foreign demand, in addition to the recent weakness of the US dollar also positive copper prices
    .
    From a technical point of view, the bull moving average system is basically formed, the inventory in the previous period continues to be in a low position, and the short-term may still break through the previous high position, but it is necessary to be wary of the profit taking of the bulls at this pressure level, and it is recommended to change hands
    in the short and high.
    It is expected that today's Shanghai copper main force 1712 range of 53200~53700 yuan / ton
    .

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