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    Home > Chemicals Industry > New Chemical Materials > October 19 Shanghai copper morning review

    October 19 Shanghai copper morning review

    • Last Update: 2022-12-07
    • Source: Internet
    • Author: User
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    Yesterday, the main force of Shanghai copper 1712 opened at 54850 yuan / ton overnight, the overall trend of rushing back down, the beginning of the session rushed to 55240 yuan / ton, bulls saw the high closing position, the plate down, the low to 54490 yuan / ton, closed at the five-day moving average of 54630 yuan / ton, down 280 yuan / ton, the position decreased by 1956 hands to 208,000 lots
    .

    Shanghai copper

    In terms of the market, as of 2017-10-18, SMM1# electrolytic copper spot price is 55240 yuan / ton, down 360 yuan / ton from the previous day, compared with the near-month contract premium of 165 yuan / ton, the recent high value preservation order profit shipment, imported copper is still the first to drop the premium, during the conference, the market is a cautious atmosphere, just at the high level of adjustment, the downstream continues to stop and watch, the market dumpers are many, wet copper has been fully discounted
    .

    Non-ferrous metals generally drifted green yesterday, subject to the strengthening of the US dollar, copper prices continued to adjust
    downward.
    From a technical point of view, the lower five-day moving average is slightly supported, the 7000 mark has repeatedly met the previous expectations, and the short-term consolidation repair should continue, testing the support of the five-day moving average, but keeping the medium and long-term bullish thinking unchanged
    .
    It is expected that the Shanghai copper 1712 range is 54500'55000 yuan / ton
    .

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