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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper rushed back down There is still room for growth in the short term

    Shanghai copper rushed back down There is still room for growth in the short term

    • Last Update: 2022-12-19
    • Source: Internet
    • Author: User
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    On Wednesday, the main 2007 contract of Shanghai copper opened at 43590 yuan / ton in the morning, and the bulls entered the market to pull up the copper price to 43740 yuan / ton, but the upward momentum is limited, and the copper price fluctuates
    around 43710 yuan / ton for a short time.
    Since then, the bulls have once again made efforts to superimpose the bears to reduce their positions one after another, and the copper price fluctuated upward from 43690 yuan / ton, closing at 43810 yuan / ton
    at midday.
    At the opening of the afternoon, copper prices continued their rally, rushing to the highest point of the day at 43,920 yuan / ton
    At this time, the bulls took profits and left the market, and copper prices fell, finally closing at 43730 yuan / ton

    Shanghai copper

    In terms of external trading, Apanlun copper opened lower at 5343.
    5 US dollars / ton, and after the opening of Shanghai copper, London copper rushed straight up to 5356 US dollars / ton
    Since then, it has been affected by oil prices and Lun copper, which fluctuated upward, reaching the highest point of the day at 5372.
    5 US dollars / ton
    At this high short profit exit, the bears also tried to exert force, copper prices fell from the high, into the European session, London copper fell rapidly, fell the daily average after continuing to fall, touched the lowest point of the day of 5328 US dollars / ton, and then copper prices rebounded to 5350 yuan / ton position
    As of 17:00, London copper closed at $5341.
    5/ton, down $11.
    5/ton, or 0.

    In terms of the market, the copper price extended by 43800 yuan / ton to the first line of sorting
    The morning market continued to continue the previous day's quotation in the premium 180 ~ premium 200 yuan / ton, low-price sources are still favored by traders, flat water copper concentrated transaction in the premium 180 ~ premium 190 yuan / ton, good copper premium 190 ~ premium 200 yuan / ton transaction deadlock, brand price difference is only 10 yuan / ton, market supply and demand is deadlocked; Intraday wet copper also showed a stalemate, and the quotation was 150 ~ 160 yuan / ton
    Copper futures are on the high side, downstream performance is weak, due to the recent delivery of long orders, market buying is still concentrated among traders;

    This month's delivery warehouse receipt has flowed out, and the buyer's choice in supply has increased, which makes the premium push resistance, but the holder has no willingness to reduce the price for the time being, so the premium price spread is narrow, the speculation space for traders is small, and the high copper price is high and the underwater supply and demand tug-of-war
    。 In the afternoon, the plate once again rushed up to the target of 44,000 yuan, the high stopped at 42,950 yuan / ton line, the end of the session gave up the rise fell back to around 43,880 yuan / ton, but the spot premium was reported by the cargo holders more and more firm, in the afternoon flat water copper started at 190 yuan / ton, returned to 200 yuan / ton, good copper again quoted at premium 00-210 yuan / ton, the transaction price rose sharply higher than 44080-44160 yuan / ton

    The high price of Shanghai copper during the day was mainly driven by the rise in crude oil prices, and affected by the further improvement of the contradiction between supply and demand of crude oil, the intraday rise of U.
    oil and crude oil expanded, thus linking the rise in copper prices
    The Fed's FOMC meeting and the Bank of Japan's monetary policy meeting are about to begin, and the market is betting that more economic stimulus will be introduced; The domestic "two sessions" are about to be held, and the market expects more favorable policies to be introduced
    Market risk appetite was boosted, helping copper prices to rush up the 44,000 mark
    At present, Shanghai copper is closing in the sun, KDJ opening is expanding, and technically copper prices still have room
    to rise.
    Wait for the guidance of the external market to test whether Shanghai copper can stand at the 44,000 yuan / ton mark

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