SMM, April 23, 2010:
This morning, the main 1906 contract of Shanghai Copper opened at 49180 yuan / ton. After the opening of the market, the copper price retreated slowly, stopping at 49100 yuan / ton. Above this position, the copper price showed a narrow range of shocks, and then, affected by the external market, the copper price began to recover somewhat, but the recovery was slow. It will be 49200 yuan per ton in the afternoon. Subsequently, the market performance basically fluctuated around the daily average of 49160 yuan / ton, and long positions were active at the end of the day. Copper prices fell again by 49080 yuan / ton, closing 49160 yuan / ton, down 220%, down 0.45%. The turnover of 1906 contracts decreased by 4342 hands to 119000 hands. The Shanghai Copper Index traded only 246000 hands today. 1906 contract positions were reduced by 994 to 187000, 1905 by 8834 to 137000 and the Shanghai Copper Index by 4264 to 518000. Today, 1905-1909 contract gradually formed a small Back structure, the price difference between contracts is only 10 yuan / ton. Today, Shanghai copper as the non-ferrous plate capital outflow of the largest metal, capital outflow of 87.98 million. Today, Shanghai copper main close Yang solid column above the elongated shadow line, pressure 20 days moving average, MACD index performance green energy column elongated, disk performance today light pattern. In the evening, waiting for the guidance of the outside market, test whether the main force of Shanghai copper can hold the position of 49000 yuan / ton.
(SMM Kwong Tze-sie)