Copper finished lower and the probability of short-term correction increased

European debt worries further slowed, and risk appetite for basic metals continued to rise slightly. In the absence of the guidance of copper, Shanghai copper opened higher and lower today, shocking, 56,500 pressure is playing a role.

On the transaction data, LME inventories continued to decrease, but the discounted water price expanded, and the cancellation of warehouse receipts copper remained stable at around 43,000 tons. The CFTC position report showed that the ** slight increase in last week’s increase, and the decrease in headroom, this implies that market forces will Change has occurred. In Shanghai, a survey of copper stocks in 20 warehouses in Shanghai, Guangdong, and Jiangsu provinces reported that, as of last Friday, stocks increased by 2787 tons to 158,938 tons. This, coupled with the sharp decline in premiums in the spot market today, is a The rebound will have a negative impact.

Last week, the author stated that the current copper supply chain is relatively fragile, but in the case of weak demand, the price support is relatively limited, and the market is not rising significantly.

Technically, copper prices are still rising, continuing cautious and optimistic judgments on Friday, but the possibility of short-term corrections has increased significantly. Concerned about the Shanghai period of 56.5 thousand copper, copper pressure of 7800 US dollars.