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[brief comment on SMM copper futures] the weakness of the domestic stock market aggravates the risk aversion sentiment in the market, and the copper price fluctuates and weakens.
Jul 9,2019 16:18CST
translation
Source:SMM
A brief Review of SMM Copper issue on July 9
The content below was translated by Tencent automatically for reference.

SMM July 9 news: today Shanghai copper main contract 1909 opened in the morning at 46260 yuan / ton, opened down 46180 yuan / ton, then the center of gravity rose to 46200 yuan / ton near the shock finishing, and then slightly lower to 46160 yuan / ton and then continued to pick up, the center of gravity rose to 46210 yuan / ton, after a brief shock finishing continued to decline to the lowest level of 46120 yuan / ton, down 46100 yuan / ton pass. Afternoon trading rose slightly, pulling up to 46250 yuan / ton, followed by a narrow range of concussion between 46190 and 46240 yuan / ton. The end of the plate closed at 46190 yuan per ton. It fell 200 yuan per ton, or 0.43 percent. Today, Shanghai Copper's main contract position increased by 8856 hands to 230000, trading volume increased by 38000 hands to 134000 hands, Shanghai Copper 1907 and 1908 contract positions decreased by 14000 hands, Shanghai Copper Index position increased by 2914 hands to 615000 hands, and trading volume increased by 46000 hands to 278000 hands. Today, Shanghai Copper remained low and volatile, mainly due to the recent decline in the domestic stock market, increased risk aversion among domestic investors, increased market concerns about the macro-economy, and the global economic and trade pattern is still not optimistic. Copper prices lack momentum. Today, Shanghai copper close solid Dayin column, above the pressure Brin middle rail, MACD index green column elongated, the technical side is still short copper price. In the evening, wait for the guidance of the outside market to test whether the Shanghai copper can be 46100 yuan / ton gate level.

(SMM Song Yao)

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