[brief Review of SMM Copper delivery] due to the rising epidemic situation in Japan and South Korea, the market is worried that the main force of copper in Shanghai will fall below the 46000 mark within days.

SMM, 21 Feb:

Today, the Shanghai copper main contract 2004 opened in the morning at 46190 yuan / ton, slightly upward after the opening and running above the daily moving average, with the center of gravity stabilizing around 46250 yuan / ton until the end of the afternoon. During the afternoon opening step down, the decline briefly stabilized around 46220 yuan / ton, and then fell sharply until the close, falling below the 46000 yuan / ton mark and closing at 45990 yuan / ton, down 0.86%. Today, the main contract of Shanghai Copper increased its position by 2781 hands to 116000 hands, mainly short positions, while trading volume decreased by 1683 hands to 62000 hands. The Shanghai copper index increased its position by 5416 hands to 357000 hands, mainly by short positions, while trading volume decreased by 4121 hands to 140000 hands. Today, the overall performance of Shanghai copper fell, and has fallen below the 46000 mark, giving back some of the recent increases, mainly due to the current epidemic in Japan and South Korea is gradually in the spread stage, and domestic Shandong has also once again burst the number of Rencheng prison infection increased, once again triggered the market to worry about the epidemic, within days CMX gold prices also continued to rise to $1636 / oz near, the market risk aversion significantly warmed up, the formation of pressure on Shanghai copper. At present, Shanghai copper closed Yin column, above the pressure 5-day moving average, KDJ formed a dead fork signal, the technical side of the negative signal. Waiting for the progress of the epidemic, test whether Shanghai copper can continue to hold 45900 yuan / ton.