October 23 Shanghai copper morning review

In terms of the market, as of 2017-10-20, the spot price of 1# copper is 54950 yuan / ton, up 1270 yuan / ton from the previous week, and the discount of the near-month contract is 230 yuan / ton, after the month, the import profit window opens, the willingness of the holders to ship for cash is strong, the market is afraid of heights, the premium is rapidly reduced, entering the 19th National Congress period, the market cautious atmosphere is strong, the trade circulation is reduced, the copper is at the high level of the period, the import of copper flows out, and the downstream stops and waits and sees after entering the market to gradually replenish
。

Copper prices are currently turning into a volatile consolidation trend, and there is some support in the lower ten-day moving average, and it is expected that the adjustment will continue in the short term, mainly range
shocks.
It is expected that today's Shanghai copper main force 1712 range of 54200 ~ 54700 yuan / ton, spot side continues to pay attention to the inflow of imported copper, the current good copper supply is less, flat water copper brand differentiation is large, is expected to be 160 ~ 250 yuan / ton
today.