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Today's Shanghai copper main force 1610 months shock sorting
.
After the morning open, it maintained a volatile finish, a slight upward and backward pullback around noon, and maintained a sideways consolidation, and finally closed at 37530 yuan, up 180 yuan, or 0.
48%, and the position decreased by 6940 lots to 238242 lots
.
Externally, today's LME March copper volatility rose
.
It opened at $4815.
5 in the morning, rising from the lowest point of $4815.
5, finishing at noon, and then retraced after the highest point of $4840 at midday, and closed at $4829 during the domestic trading session
.
Macro: At present, global economic easing is still continuing, many central banks have joined hands to release water, and the dollar has passive appreciation pressure
.
And from the US manufacturing data, it can be seen that the growth rate of US industrial production is gradually slowing down, if the interest rate hike makes the dollar appreciate, but this is more unfavorable to the stability of industrial production, so the Fed has no motivation and pressure to raise interest rates, and the US dollar interest rate hike may be further postponed
.
For the September energy meeting, Oman's oil minister refused to attend, OPEC meeting may not achieve the purpose of oil production cuts, OPEC's inability to boost prices disappointed the market
.
Commodity prices are volatile today, copper prices rose driven by yesterday's plunge in the US dollar, but due to no other stimulus, the end of the day fell back, copper performance is weak
.
Market: Today's market supply is acceptable, good copper is slightly tight, traders due to the basis is not ideal, intend to sell at a high price, smelters rarely ship
.
As the price has fallen from the rise in the previous period, and has been in the consolidation stage recently, downstream manufacturers purchase on the dip, mainly on demand, and the consumption situation is better
.
The afternoon premium is basically the same as in the morning, good copper reported at B100-B130 yuan, flat water copper B40-B50 yuan, wet copper newspaper at C10-B0 yuan, some traders to 1609 month quotation, good copper reported at B40 yuan, flat water copper C70-C60 yuan or so
.
Today's Shanghai copper first suppressed and then rose, opened sharply high and then fell under pressure, the 40-day line was supported, and the decline in LME inventories for several days also provided upward momentum, focusing on whether the 37,500 yuan / ton line can stand firm
.
