SMM, 25 Oct:
Today, the main contract of Shanghai Copper opened at 47340 yuan / ton in the morning. After the opening, the short position increased one after another, and the center of gravity moved slightly down to 47330 yuan / ton. in the second quarter, the market continued to fall to a daily low of 46260 yuan / ton, and then the long center of gravity moved up to 47300 yuan / ton until the end of noon. In the afternoon, the market was bullish, the bears reduced their positions and left one after another, and the bulls entered the market one after another. in the afternoon, the market broke through the daily average line all the way to the highest level of 47420 yuan / ton in the day, and closed at 47390 yuan / ton, up 80 yuan / ton, up 0.17%. Shanghai copper main contract 1912 position decreased by 932 hands to 224000 hands, trading volume decreased by 1312 hands to 13000 hands. The Shanghai copper index fell 2430 hands to 541000, while trading volume fell 11000 to 28000. The overall upward trend today was mainly due to the poor performance of US economic data in recent days, with most investors expecting the Federal Reserve to cut interest rates by 25 basis points next week, the dollar weakened in afternoon trading, and Shanghai Copper was boosted by a higher focus. At present, Shanghai copper in Yang, MACD continues to show a green column. Evening test Shanghai copper can continue to stabilize 47300 yuan / ton high.
(SMM Song Yi)