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Trade Service
Overnight, the main 1807 contract of Shanghai copper was boosted by the rise in the external market, opening at 51700 yuan / ton
.
It fell slightly at the beginning of the session, and then ran in the range of 51400~51530 US dollars / ton
.
The late-day volatility continued, closing at 51500 yuan / ton, up 390 yuan / ton
.
Yesterday, the US CPI for April was less than expected, and the dollar retreated
.
Crude oil climbed again, closing at its highest
level since 2014.
Boosting copper prices, copper rose overnight, the center of gravity moved up, stuck in all moving averages
.
The main force of Shanghai copper jumped upwards, standing at the 20-day moving average
.
It is expected that the main force of Shanghai copper today is 51300~51800 yuan / ton
.
In terms of spot, with the rise of the plate, the quotation may fall, and it is expected to report flat water ~ liter 70 yuan / ton
today.
Inflation in the United States in April was less than expected, making the market doubt that it accelerated the pace of interest rate hikes, the high of the US dollar fell, copper prices were boosted, short-term interest rate hikes are expected to continue to cool, the probability of a weakening US dollar is higher, copper prices are expected to continue to be boosted
.
At the same time, the gradual improvement of domestic macro data verifies that the demand outlook is not bad, and the strike disturbance still exists, so copper prices may repair the pessimistic expectations of the past, and it is recommended that Shanghai copper light warehouse test long
.
Driven by the decline in inventory, low buying, superimposed on the US dollar index fell below the 93 mark, overnight London copper rebounded sharply above $6900, basically recovered this week's decline, scrap copper shortage on copper price support is still there, it is expected that today's London copper or shock recovery
.
