SMM, 16 Jan:
Today, the Shanghai copper main contract 2003 opened in the morning at 49360 yuan / ton, after the opening of the center of gravity to maintain stability in the vicinity of 49290 yuan / ton shock, then slightly fell back to 49230 yuan / ton, the afternoon market trend is still stable, the center of gravity basically maintained at 49240 yuan / ton, the end of the day closed at 49200 yuan / ton, down 170 yuan / ton, down 0.34%. Shanghai copper main contract daily position increased by 324 hands, to 142000 hands, mainly for the short increase in positions; trading volume decreased by 26000 hands, to 52000 hands. Shanghai copper index position decreased by 5570 hands to 299000 hands, mainly for the long reduction; trading volume decreased by 38000 hands to 100000 hands. Today, the trend of copper in Shanghai is stable, with the center of gravity still maintaining a high level of 49200 yuan / ton, and the main Sino-US trade agreement has been officially released, while the US side said that since February 15, the tariff imposed on the US 300 billion 4A list has been reduced from 15% to 7.5%, and the Shanghai copper market has been able to maintain a high level of stability. At present, the domestic central bank today again carried out a reverse repurchase operation of 300 billion yuan to achieve a net investment of 300 billion, a year ago the market cash flow is relatively abundant, the superimposed trade mood is improving, and from a macro point of view, copper prices are still expected to rise, and from a technical point of view, Shanghai copper closed negative today, the MACD green column also continued to shorten, the technical side looked at the upper pressure is not very strong, waiting for the outer plate guidance at night to test whether Shanghai copper can further rush up and stand firm at 49400 yuan / ton high.
