SMM, 11 Oct:

Today, the Shanghai copper main contract opened at 46970 yuan / ton in the morning, then the center of gravity remained stable between 46910 and 46980 yuan / ton, and then slightly pulled up to the highest level of 47060 yuan / ton in the day. After a small rise, the center of gravity slipped to 46950 yuan / ton and closed at 46910 yuan / ton, up 310 yuan / ton, an increase of 0.67%. Today, the main contract position of Shanghai Copper increased by 9.4 million hands to 212000 hands, the trading volume increased by 48000 hands to 137000 hands, the daily position of Shanghai Copper Index decreased by 22000 hands to 549000 hands, and the trading volume increased by 55000 hands to 301000 hands. Today, the Shanghai copper plate continued to maintain the night high level, mainly due to the improvement in Sino-US trade sentiment, market confidence is optimistic, Shanghai copper continued to maintain stability at the 47000 yuan / ton level, but as the global macroeconomic situation is still on the low side, we need to guard against the impact of falling optimism on the disk, and continue to pay attention to the results of today's Sino-US trade negotiations. At present, Shanghai copper returned to Yang for the first time after three consecutive yin, the MACD green column also continued to shorten, the technical side is slightly good, waiting for the outer plate guidance in the evening to test whether Shanghai copper can continue to stand at the 46900 yuan / ton level.

(SMM Song Yi)