Shanghai copper, the hottest copper, bottomed out

Shanghai copper's intraday bottoming rebound reduced some losses

Abstract: within the day, the pressure on Shanghai copper 1801 contract continued to fall to 52840 yuan/ton, falling below the main average support, indicating that the selling pressure above was heavy, due to the oscillation and rebound of the US dollar index, while the selling pressure on the whole non-ferrous metal market was heavy, especially the pressure on Shanghai nickel continued to fall, dragging down the copper price. In terms of operation, it is suggested that Shanghai copper can sell high and absorb low in the yuan range, with stop losses of 500 yuan/ton each

on Thursday, the main contract 1801 of Shanghai copper continued its decline, but the intraday bottom rebounded, reducing some of the decline. The trading range was yuan/ton, and closed at 52840 yuan/ton at the end of the day, with a slight decline of 0.58%. Its performance slightly resisted the decline of Shanghai nickel. At present, it fell below the main moving average group, and the downside risk remains. In terms of term structure, the copper market turned to near low and far high, and the positive price difference between Shanghai copper 1801 contract and 1802 contract narrowed to 20 yuan/ton

in the external market, the rebound of Asian Lun copper was weak, of which the trading volume of Lun copper was USD/ton for three months, and the current trading volume was USD 6760/ton, with a slight daily increase of 0.16%. The cumulative decline in the first three days of this week was more than 3.66%, and the support below focused on USD 6700/ton. In terms of positions, on November 28, the position of Luntong was 321000 hands, with an increase of 1739 hands per day. In the past week, Luntong increased its position, which showed that the long and short differences had increased

macroscopically, the Asian dollar index rebounded weakly and is now trading near 93.17. The revised annualized quarterly rate of real GDP in the United States in the third quarter increased by 3.3%, better than expected, indicating that the U.S. economy recovered rapidly, mainly driven by the strengthening of investment by enterprises and government agencies. In addition, China's official manufacturing PMI in November was 51.8, up 0.2% month on month, indicating that the manufacturing industry continues to maintain a steady growth trend. In terms of information, Chile's copper output in October was 512730, an increase of 13.3% year-on-year, and the cumulative output since the beginning of the year is 4.54 million tons

in the market, on November 30, Shanghai electrolytic copper spot offered a discount of 100 yuan/ton to the contract of the month - Pingshui, and the transaction price of Pingshui Copper was yuan/ton. At the end of the month, many large enterprises with high work efficiency were settling at the end of the month, and the trading attention decreased, but the disk fell sharply. The Shanghai Lun ratio continued to be revised down, attracting some downstream and funded traders to enter the market for goods. The good copper discount quickly narrowed to 50-40 yuan/ton. After 10 o'clock, there was a good copper quotation with a discount of 20 yuan/ton, and the flat copper discount of 60 yuan/ton, which continued to show a rush for goods. During the second trading period, good copper had been reported to be flat, Pingshui Copper discount is 50 yuan/ton - 30 yuan/ton, and the passion for transaction gradually subsides

there are clear provisions on the sampling position, shape and size of the samples used for routine inspection in production.

within the day, the pressure on the Shanghai copper 1801 contract continued to fall to 52. As long as the extended amount of 840 yuan/ton was installed, it fell below the main average support, indicating that the selling pressure above was heavy, due to the oscillation and rebound of the US dollar index, while the selling pressure on the whole non-ferrous metal market was heavy, especially the pressure on Shanghai nickel continued to fall, dragging down the copper price. In terms of operation, it is suggested that Shanghai copper can sell 1. 5% lower in the yuan range Faster suction, stop loss of 500 yuan/ton