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[brief comment on SMM Copper] the market waits for the G20 summit to guide copper prices to maintain a high and volatile pattern.
Jun 26,2019 15:59CST
translation
Source:SMM
A brief Review of SMM Copper on June 26th
The content below was translated by Tencent automatically for reference.

SMM June 26th news: today's Shanghai copper main contract 1908 opened in the morning at 47360 yuan / ton, today's market trend is stable, basically maintain a high small concussion trend, the center of gravity maintained in the 47270 yuan / ton around, the afternoon as a whole to maintain the morning high shock pattern, although there is a small decline, but the center of gravity is still in the vicinity of 47230 yuan / ton, closing at 47210 yuan / ton at the end of the day. It rose 300 yuan per ton, or 0.64 percent. Today, Shanghai Copper's main contract reduced its position by 3152 hands to 242000, trading volume increased by 39000 hands to 190000 hands, and Shanghai Copper 1909 contract position increased by 11000 hands to 147000 hands today. The Shanghai Copper Index increased its position by 594000 hands today, while trading volume increased by 62000 hands to 356000 hands. Fed officials spoke today, hinting at the uncertainty of interest rate cuts, the dollar has been slightly boosted, copper prices are slightly under pressure, but with the G20 summit approaching, the market is still optimistic about the summit leaders negotiations, the overall mood is still supporting copper prices, copper prices today showed a high shock to maintain stability, the market is waiting for the G20 summit to further guide the trend of copper prices. Today, Shanghai copper closed slightly, on the lead straight to Brin on the track, MACD red column continued to grow, the technical side is still slightly positive for copper prices. In the evening, waiting for the guidance of the outside market, test whether Shanghai copper can stand firm and rush 47500 yuan / ton.

(SMM Song Yao)

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