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[brief review of SMM copper futures] the market is waiting for the minutes of the Federal Reserve meeting to declare that the low position of Shanghai Copper is hovering.
Oct 9,2019 16:01CST
translation
Source:SMM
A brief Review of SMM Copper on Oct. 9
The content below was translated by Tencent automatically for reference.

SMM, 9 October:

Today, the Shanghai copper main contract 1912 opened in the morning at 46630 yuan / ton, the opening is slightly upward, the center of gravity in 46700 yuan / ton slightly stabilized, close to the midday center of gravity fell 30 yuan / ton, hovering around 46670 yuan / ton, afternoon disk continued to rebound, all the way to the day's highest point 46730 yuan / ton, the end of the day continued to decline and closed at 46640 yuan / ton, down 280 yuan / ton, down 0.6%. Today, the daily position of the main contract of Shanghai Copper increased by 7910 hands to 200000 hands, the trading volume increased by 26000 hands to 91000 hands, and the position of Shanghai Copper 2001 contract increased by 7190 hands to 76000 hands. Shanghai copper index positions increased by 13000 hands to 557000 hands, trading volume increased by 47000 hands to 259000 hands. At present, the structure of the disk is about 1910 in the current month and about 1911 in the recent month, and the price difference of Back, is about 20 yuan. Today, the center of gravity of copper in Shanghai continues to remain low, mainly due to the weak macroeconomic market dominated by copper, and the superimposed dollar remains high to depress copper prices, and the market is waiting for the minutes of the Fed meeting to further judge the trend of the dollar, thus affecting copper. Today, Shanghai copper collection entity shade line, has lost all moving average support, MACD index green column elongated, the technical performance is bearish. At night, waiting for the outer plate to guide, test whether Shanghai copper can continue to stand at 46500 yuan / ton level.

(SMM Song Yi)

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