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[brief comment on Copper in SMM] the macro trend is still not clear. Copper prices maintain the trend of consolidation.
Jun 27,2019 16:32CST
translation
Source:SMM
A brief Review of SMM Copper on June 27th
The content below was translated by Tencent automatically for reference.

SMM, June 27th: today, the main contract of Shanghai Copper opened at 47110 yuan / ton in the morning, then fell slightly to 47050 yuan / ton, and then continued to rise to the highest level of 47160 yuan / ton in the day, and then fell to the position of 47070 yuan / ton. In the afternoon, the market still maintained the trend of first rising and then falling, and fell to the lowest level of 47040 yuan / ton in the day. At the end of the day, it recovered slightly to 47090 yuan / ton, down 230 yuan / ton. It fell by 0.49%. Today, the overall disk showed a concussion pattern, the disk around the daily average near the shock finishing, the center of gravity in the vicinity of 47110 yuan / ton, price fluctuations in the range of 120 yuan. Today, the overall performance of the long position reduction trend, Shanghai Copper main contract position decreased by 12000 hands to 230000 hands; trading volume decreased by 54000 hands to 137000 hands. Today, the position trend is obvious, Shanghai Copper 1909 and 1910 contract position increased by 23000 hands to 216000 hands. The Shanghai Copper Index rose 1026 hands to 595000 today, while trading volume fell 84000 hands to 272000. Today's market trend is stable, mainly due to the macro trend is still not clear, the market is waiting for the news of the G20 summit to guide the market, Shanghai copper closed down slightly today, the KDJ index expanded weak, technology in the face of copper price lack of support. In the evening, wait for the guidance of the outside market to test whether Shanghai Copper can stand firm at 47200 yuan / ton.

(SMM Song Yao)

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