SMM, May 15 / PRNewswire-Asianet /-
Today, the main 1907 contract of Shanghai copper opened at 47450 yuan / ton in the morning, opening at a low level, and then affected by the external market, the disk rose rapidly. After the short-term exploration of 47670 yuan / ton, the center of gravity of copper prices moved down slightly. In the morning, the first trading period focused on trading around 47600 yuan / ton, for a small concussion finishing. Then bulls continued to increase positions into the market, copper prices rose again. Until the afternoon, copper prices further reached a high of 47780 yuan / ton, followed by a narrow range of concussion around 47730 yuan / ton, and reached an intraday high of 47800 yuan / ton at the end of the day, closing at 47730 yuan / ton, up 220 yuan / ton, an increase of 0.46 per cent. 1907 contract volume increased by 2924 to 159000, with the Shanghai Copper Index trading volume reaching 297000 today. 1907 contract position increased by 17000 to 216000, 1908 contract position increased by 5576 to 90, 000, 1905 contract reduced by 1380 to 16000. Today, Shanghai copper in the non-ferrous plate capital inflows bright, capital inflows reached 456 million. The main force of Shanghai copper closed in the sun today, and the lower part was supported by Brin's lower rail, showing a certain degree of positive support on the technical side. At night, it waited for the guidance of the outside market to test whether Shanghai copper could further break through 47800 tons / yuan.
The 1905 contract opened at 47330 yuan / ton in the morning and continued to reduce its short positions today. At the beginning of the first trading session, the center of gravity remained stable at 47460 yuan / ton line, and the initial trading was 47520 yuan / ton. The center of gravity of copper prices continued to move upward in the afternoon, focusing on the 47580 yuan / ton position. It closed at 47600 yuan per ton. Today, the settlement price of the 1905 contract was 47480 yuan / tonne, with a reduction of 1380 hands to 16000 hands and a delivery volume of 39025 tons.
(SMM Kwong Tze-si)