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Domestic copper price center of gravity Move down short term to maintain a narrow oscillation operation
Feb 23, 2018

Recently, the domestic copper center of gravity downward shift, Thursday, Shanghai Copper Main 1804-month contract opened high open 53090 yuan after the pressure, price shocks lower to 52560 yuan, followed by a small rebound to 52800 yuan, and in the lower range of the operation of a narrow range, closed to 52750 yuan, rose 190 yuan, or 0.36%

On the outer plate side, the LME3 month copper sharply low open 7088 U.S. dollars, then the price all the way down to 7005 U.S. dollars after a small rebound, the end of the report received 7031 U.S. dollars, fell 104 U.S. dollars, a decrease of 1.46%.

Market, Guangdong spot a copper price of 52460 yuan/ton, up 140 yuan, the Yangtze River spot a copper price 52290 yuan/ton, up 30 yuan, copper paste water 190-paste water 170; Shanghai spot of copper 52220 yuan/ton, rose 1555 yuan. Domestic spot copper price stability and a small rise, most of the downstream manufacturers have not started, the spot copper merchant quotes not much, the market is very few, investors wait-and-see, is expected this week copper price upstream resistance.

News, the Fed's latest meeting minutes show that Fed officials optimistic about the U.S. economic outlook, to achieve inflation targets, which will speed up the pace of the Fed rate hike, the impact of the dollar index again stood 90, non-ferrous Metals rally respite, spot copper market is still in the reservoir stage, the spot to maintain a large paste water trend, Short-term trend shocks mainly.

In a comprehensive view, copper is still in the multi-empty power interwoven pattern. On the macro side, the dollar's short-term rebound suppresses copper prices. Supply and demand, copper supplies will continue to maintain high, downstream demand, although the gradual recovery in the consumption season before the start of the domestic inventory will still accumulate, copper pressure.


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