[brief comment on SMM copper] Shanghai copper contract price difference pulled into Contango is still under pressure Brin middle rail-Shanghai Metals Market

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[brief comment on SMM copper] Shanghai copper contract price difference pulled into Contango is still under pressure Brin middle rail

Translation 04:56:42PM Apr 25, 2019 Source:SMM

SMM, April 25 / PRNewswire-Asianet /-

This morning Shanghai copper main 1906 contract opened at 49240 yuan / ton, opened around 49220 yuan / ton narrow range shock, driven by the outside market began to rise, early afternoon exploration of 49350 yuan / ton, and then copper prices stabilized in the high narrow range shock, slow pullback. In the afternoon, short positions took the initiative to increase their positions, and copper prices fell in a straight line. After a short-term decline of 49090 yuan per ton, the end of the day basically remained stable at 49150 yuan per ton, closing at 49180 yuan per ton, up 200 yuan per ton, or 0.41 percent. 1906 contract trading volume fell 4092 hands to 145000 hands, compared with 275000 hands in the Shanghai Copper Index today. 1906 contract position decreased by 1576 to 189000, 1905 contract reduced by 15054 to 105000, 1907 contract increased by 4864 to 118000, Shanghai Copper Index decreased by 7538 to 507000. Today, the price difference between 1905 and 1909 contracts has been opened. At present, the contract has formed a Contango structure in recent months, and the contract price difference between 1905 and 1906 is about 30 yuan / ton. Today, Shanghai copper as the non-ferrous plate capital outflow of the largest metal, capital outflow of 91.89 million. Today, the main Shanghai copper recovery entity recovered the 60-day moving average, but it is still under pressure in the middle rail of Brin, and the double line of MACD index is still in the downward trend. In the evening, waiting for the guidance of the outside market, test whether the main force of Shanghai copper can hold the position of 49100 yuan / ton.

(SMM Kwong Tze-sie)

Key Words:  Copper  SMM  copper  copper. 

[brief comment on SMM copper] Shanghai copper contract price difference pulled into Contango is still under pressure Brin middle rail

Translation 04:56:42PM Apr 25, 2019 Source:SMM

SMM, April 25 / PRNewswire-Asianet /-

This morning Shanghai copper main 1906 contract opened at 49240 yuan / ton, opened around 49220 yuan / ton narrow range shock, driven by the outside market began to rise, early afternoon exploration of 49350 yuan / ton, and then copper prices stabilized in the high narrow range shock, slow pullback. In the afternoon, short positions took the initiative to increase their positions, and copper prices fell in a straight line. After a short-term decline of 49090 yuan per ton, the end of the day basically remained stable at 49150 yuan per ton, closing at 49180 yuan per ton, up 200 yuan per ton, or 0.41 percent. 1906 contract trading volume fell 4092 hands to 145000 hands, compared with 275000 hands in the Shanghai Copper Index today. 1906 contract position decreased by 1576 to 189000, 1905 contract reduced by 15054 to 105000, 1907 contract increased by 4864 to 118000, Shanghai Copper Index decreased by 7538 to 507000. Today, the price difference between 1905 and 1909 contracts has been opened. At present, the contract has formed a Contango structure in recent months, and the contract price difference between 1905 and 1906 is about 30 yuan / ton. Today, Shanghai copper as the non-ferrous plate capital outflow of the largest metal, capital outflow of 91.89 million. Today, the main Shanghai copper recovery entity recovered the 60-day moving average, but it is still under pressure in the middle rail of Brin, and the double line of MACD index is still in the downward trend. In the evening, waiting for the guidance of the outside market, test whether the main force of Shanghai copper can hold the position of 49100 yuan / ton.

(SMM Kwong Tze-sie)

Key Words:  Copper  SMM  copper  copper.