Changjiang copper price copperGamessimilartocrashbandicoot.ccmnGamessimilartocrashbandicoot.cn essay: bullish profit-taking depressed metal prices, and overnight copper closed down 0.22%. China's LPR did nothing in April, while the current copper market is facing a contradiction between high expectations and low reality, and copper may fall today.
[copper futures market] the bulls' profit-taking has depressed metal prices, and the recent sharp rise in copper prices is not driven by a shortage of supply and demand, but by speculative funds. As a result, copper prices have been dragged down at a time when a large number of funds have chosen to close their positions at a profit. Overnight Lun copper high fell, late trading shock closed down negative line, the latest closing price of US $9853 / ton, closed down US $22, down 0.22%, trading volume of 29959 lots decreased by 4002 lots, position of 335030 lots decreased by 120 lots. In the evening, the Shanghai copper opened and dived, the inter-market weak range operated, and the center of gravity fell back to above 79000. The latest closing price of the main monthly 2406 contract was 79340 yuan / ton, down 740 yuan, or 0.92%.
London Metal Exchange (LME) London Copper on April 20, the latest inventory of 121200 metric tons, down 925 metric tons from the previous trading day, down 0.76%.
Changjiang Copper Network News: today, Shanghai copper opened low, 09:01 the main month 2406 contract the latest opening price of 79470 yuan / ton, down 610 yuan. The boost effect of China's LPR on hold in April was limited, and market sentiment gradually weakened. At the same time, overseas inflationary pressures remain high and hawkish Fed officials are firm, making investors' expectations of interest rate cuts this year sharply lower and market trading sentiment more cautious. At present, the copper market is facing the contradiction between high expectations and low reality. although the market is generally optimistic about copper prices, and the global industrial manufacturing industry is warming up to boost industrial metal consumption, the reality is not satisfactory, and the actual demand is still weak. so that the pressure above the copper price persists. In the spot market, the transaction situation is bleak, consumption is sluggish, and after the copper price has risen sharply, the willingness of downstream enterprises to receive goods has been significantly reduced. This negative feedback has a further impact.GamessimilartocrashbandicootWith the production and operation of copper rods and other enterprises, the widening price gap of fine waste is also a drag.GamessimilartocrashbandicootThe vigilance of the consumer market. In addition, spot rising water continues to operate at a low level, making it difficult to provide effective support for copper prices. Therefore, in this context, copper may face downward pressure today.
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