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Shanghai copper afternoon review on May 8

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Overnight, the main 1906 contract of Shanghai copper opened low at 47890 yuan / ton, after the opening by the guidance of the external market, the shock tested 48050 yuan / ton, but at this level failed to see concentrated transactions, soon the center of gravity fell back to the daily moving average near the downward, and after a narrow range, again performance followed the external shock downward, intraday copper prices tried to maintain stability near 47860 yuan / ton, but failed to match the power of bears, the copper price continued to fall, tested down 47760 yuan / ton, closed at 47810 yuan / ton, down 0.
99%
。

Shanghai copper

Spot prices fell sharply, but low levels also failed to attract a large number of downstream replenishments, and holders were less willing to sell, and near-term quotations are expected to remain premium, considering the cost of festive positions and about to face delivery
.
It is expected that today's Shanghai copper 47500-48100 yuan / ton, spot flat water - liter water 100 yuan / ton
.

The EU lowered the growth rate of the euro area economy, cut the German GDP growth rate to 0.
5%, and warned of eurozone risks; Investors' concerns about the international trade situation, as well as the current weak performance in the domestic demand sector, State Grid Investment has no special expectations, which has put pressure on copper prices, and spot copper prices are expected to fall
today.

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