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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper volatility is strong, but market transactions are difficult to improve

    Shanghai copper volatility is strong, but market transactions are difficult to improve

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    On Thursday, the Shanghai copper 1608 contract opened at 36210 yuan / ton
    .
    During the morning trading long profit taking, copper prices down to 36060 yuan / ton, with the British referendum to remain in the European number of leads, the dollar continued to fall back to 93.
    43, in the afternoon bulls tentatively increased positions, accompanied by a large number of short positions, copper prices all the way up, high touched 36330 yuan / ton, but under pressure near the 60-day moving average, late pullback, at 36270 yuan / ton closed out of the doji, up 380 yuan / ton, up 1.
    06%.

    Shanghai copper

    In the external market, London copper opened high at 4720 yuan / ton, and during the Asian session, London copper first rose slightly to the 60-day moving average around 4726 US dollars / ton and was blocked, with crude oil falling back to 49.
    36 US dollars / barrel, long profit outflow sharply, copper prices turned down
    .
    Later, boosted by the dominance of the referendum to remain in Europe, crude oil strengthened, the US dollar weakened, and London copper tested low and recovered; Entering the European session, London copper accelerated higher, touching 4743.
    5 US dollars / ton, as of 17:30, London copper reported 4739 US dollars / ton, up 0.
    66%.

    On the macro front, the probability of the UK remaining in the EU is getting bigger and bigger, and the results
    will be gradually announced yesterday.
    Markets expect more central banks, especially new ones, to join the ranks of monetary policy easing, and China is likely to cut interest rates
    unless the economy does stabilize and recover.
    Too many
    messages.

    In terms of the market, the price of copper is fully 36,000 yuan / ton, and the downstream fear of heights only maintains on-demand procurement; Traders continue to be the main force
    of market inquiry and transaction.
    The quotation of the holder remained stable at the premium of 80 yuan - 120 yuan / ton, and the trader continued to receive the goods to complete the long order
    .
    Market quotations are firm, low-priced goods are difficult to find, although the inquiry is active, but the transaction deadlock pattern is difficult to break for the time being, and the transaction volume is gradually shrinking
    .
    In the afternoon, copper prices rebounded, the transaction price was at 36200-36320 yuan / ton, the quotation of the holder remained stable, the premium was firm at 80-110 yuan / ton, the downstream performance was calm, there was no intention to chase higher, although the trade had an inquiry, it was difficult to have a suitable source of goods, and the transaction was difficult to improve
    .

    Overall, the Shanghai copper shock soared, again blocked near the 60-day moving average, but Shanghai copper has stood on the 36,000 yuan / ton line, and London copper has broken through the 60-day moving average, reaching a two-week high, it is expected that Shanghai copper will be driven by London copper oscillation is strong, operating within 36000-36400 yuan / ton
    .

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