Long and short trading is still cautious. The selling pressure above copper is heavy.
on Monday, the main contract of Shanghai copper opened low and went high, but the increase is limited. The operating range is yuan/ton, and it closed at 51340 yuan/ton at the end of the day, slightly down 0.17% from the closing price of the previous trading day. It has not fully made up for the gap of short selling after the holiday, indicating that the selling pressure above is heavy. In terms of term structure, Shanghai copper maintained a positive arrangement of near low and far high, and the positive price difference between the 1806 transparent texture contract and the 1807 contract of Shanghai copper was flat to 170 yuan/ton
in the external market, the LME market was closed. LME copper was reported at US $6845/ton for three months last Friday, with a slight daily decline of 0.29%. The copper price is still in the intersection of moving averages, and the direction of operation is unclear. In terms of positions, on May 3, Lun copper's position was 313000, with a daily reduction of 5349 positions, for two consecutive days. It shows that funds can increase and modify the formula to improve the consistency of test data, which continues to flow out of the copper market, and market sentiment is low
in the market, on May 7, Shanghai electrolytic copper spot offered a discount of 10 yuan/ton - a premium of 40 yuan/ton, and the transaction price of Pingshui Copper was yuan/ton. The topic of maintaining the stability of the monthly basis of Shanghai copper is how to suppress the natural discharge of about 220 yuan/ton. The early morning quotation of the carrier is flat water - a premium of 40 yuan/ton. Traders are interested in good copper based on the factors of the proximity of delivery and the large basis. The market is depressed to a premium of yuan/ton by traders with the intention of receiving goods. Then flat water copper is under pressure, and it is difficult to maintain the stability of flat water, resulting in a transaction with a discount of 10 yuan/ton, Wet copper was reduced from a discount of 60 yuan/ton to a discount of 60 yuan/ton. The lower reaches of the day waited and waited to maintain rigid demand, and market transactions still contributed to speculation by some traders. Although the supply was loose, the quotation still showed a certain price support mood, especially Pingshui Copper was unwilling to discount too much. On Monday, the market still showed that saw saw saw more and more demands later
macroscopically, the Asia US dollar index fluctuated narrowly around 92.7, finishing up for the fourth consecutive day of high-level oscillation. The market is waiting for us president Trump's decision on whether to withdraw from the Iran nuclear agreement on Saturday. In addition, we need to pay attention to China's April trade account this week. In the industry, the operating rate of copper rod enterprises increased by 12.16% year-on-year in April
within the day, the oscillation of Shanghai copper 1807 contract was consolidated to 51340 yuan/ton, which was still intertwined with the moving average. Long short trading was still cautious due to the lack of focus in the market. However, recently, Lun copper inventory continued to fall, which brought some boost, making the copper price relatively resistant to decline. In terms of operation, it is suggested to wait and see for the time being, and the operating range of Shanghai copper 1806 contract focuses on yuan/ton