[brief comment on SMM Copper] Shanghai Copper far month contract increases sharply at night to test whether the copper price can hold 48900 yuan / ton-Shanghai Metals Market

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[brief comment on SMM Copper] Shanghai Copper far month contract increases sharply at night to test whether the copper price can hold 48900 yuan / ton

Translation 05:07:15PM Apr 26, 2019 Source:SMM

SMM, April 26 / PRNewswire-Asianet /-

The main 1906 contract of Shanghai Copper opened at 48810 yuan / ton this morning. After the opening, the center of gravity hovered around the daily average of 48840 yuan / ton. During the period, it dropped 48800 yuan / ton, and then the center of gravity moved up with the outside market, and the copper price fluctuated slowly until the afternoon. After the copper price rose 48940 yuan / ton in the short term, the center of gravity fell back to the daily average again, and the short position at the end of the day took advantage of the opportunity to reduce its position, and its performance rose somewhat, closing 48970 yuan / ton, down 230 yuan / ton, down 0.47%. 1906 contract volume increased by 1236 to 146000, with the Shanghai Copper Index trading volume reaching 300000 today. 1906 contract position decreased by 4980 to 184000, 1905 contract reduced by 11776 to 93000, 1907-1908 contract increased by 11094, of which 1907 contract increased position by 5708, position performance moved backward, Shanghai Copper Index decreased 7538 hands to 507000. Today, the contract in recent months formed a Contango structure, the price difference is stable at about 30 yuan / ton. Today, the outflow of copper funds from Shanghai reached 101 million. Today, the main force of Shanghai copper closed in the sun, elongated under the shadow line, all kinds of indicators are still declining. In the evening, waiting for the guidance of the outside market, test whether the main force of Shanghai copper can hold the position of 48900 yuan / ton.

(SMM Kwong Tze-sie)

Key Words:  Copper  SMM  copper  copper. 

[brief comment on SMM Copper] Shanghai Copper far month contract increases sharply at night to test whether the copper price can hold 48900 yuan / ton

Translation 05:07:15PM Apr 26, 2019 Source:SMM

SMM, April 26 / PRNewswire-Asianet /-

The main 1906 contract of Shanghai Copper opened at 48810 yuan / ton this morning. After the opening, the center of gravity hovered around the daily average of 48840 yuan / ton. During the period, it dropped 48800 yuan / ton, and then the center of gravity moved up with the outside market, and the copper price fluctuated slowly until the afternoon. After the copper price rose 48940 yuan / ton in the short term, the center of gravity fell back to the daily average again, and the short position at the end of the day took advantage of the opportunity to reduce its position, and its performance rose somewhat, closing 48970 yuan / ton, down 230 yuan / ton, down 0.47%. 1906 contract volume increased by 1236 to 146000, with the Shanghai Copper Index trading volume reaching 300000 today. 1906 contract position decreased by 4980 to 184000, 1905 contract reduced by 11776 to 93000, 1907-1908 contract increased by 11094, of which 1907 contract increased position by 5708, position performance moved backward, Shanghai Copper Index decreased 7538 hands to 507000. Today, the contract in recent months formed a Contango structure, the price difference is stable at about 30 yuan / ton. Today, the outflow of copper funds from Shanghai reached 101 million. Today, the main force of Shanghai copper closed in the sun, elongated under the shadow line, all kinds of indicators are still declining. In the evening, waiting for the guidance of the outside market, test whether the main force of Shanghai copper can hold the position of 48900 yuan / ton.

(SMM Kwong Tze-sie)

Key Words:  Copper  SMM  copper  copper.