SMM, 17 Feb:
Today, the Shanghai copper main contract 2004 opened in the morning at 46090 yuan / ton, briefly stabilized at 46100 yuan / ton after the opening shock, and then quickly pulled up, rushed up to 46410 yuan / ton high, and then slightly revised back to 46350 yuan / ton around, afternoon trading continued to maintain the upward trend, copper prices pulled up until the end of the session closed at 46490 yuan / ton, up 440 yuan / ton, up 0.96%. Today, the main contract completed the month, Shanghai bronze main force in 2004 to increase positions 5908 hands, to 111000 hands, mainly long positions; trading volume increased by 23000 hands to 56000 hands. Shanghai Copper 2005 and 2006 contracts increased their positions by about 6500 hands, while the Shanghai Copper Index increased their positions by 8434 hands to 361000 hands, mainly for long positions, and trading volume increased by 51000 hands to 136000 hands. Shanghai copper rose across the board during the day, mainly due to the domestic central bank's "interest rate cut" operation again today. The central bank launched a 200 billion medium-term lending facility (MLF) operation within the day, and the winning interest rate was cut by 10 basis points to 3.15%. At the same time, the 100 billion seven-day reverse repurchase operation, a total of 300 billion net investment, market confidence was boosted, the domestic stock market rose all the way, Shanghai copper was also boosted by the good news. With regard to the epidemic situation, the director of Raytheon Mountain Hospital recently said that the inflection point of the epidemic had arrived and that the control effect of the domestic epidemic had initially appeared, but due to the increase in the number of coronavirus patients in Japan, Singapore, and other countries, the potential risk factors were still relatively large. We still need to be vigilant about the restrictions on the high copper price of the epidemic, continue to pay attention to the progress and risk points of the epidemic, and test whether Shanghai copper can stabilize the 46500 high level. Today, the Shanghai copper 2002 contract is facing delivery, after the opening trend is very strong, all the way up, has rushed up 46000 yuan / ton and 46100 yuan / ton high, until the close slightly fell back to 46030 yuan / ton up 390 yuan / ton, up 0.85%, settled at 45750 yuan / ton, the final position of 20355 hands, delivery volume of 101775 tons.
