As we expected, yesterday's London copper closed lower and the market was trading at $70 because of the talks. We have seen that the current market is still in a bullish atmosphere. The lack of market short-sales forces has caused many investors to basically wait and see. The market is currently judged by the high number of high speculators, and the fund's liquidation has also caused the price to fall. We Seeing that the current premium is still maintained at the level of $180, there is still limited room for the market to fall. At this time, the high level of the London copper oscillation has become apparent, but the current situation has not changed.
The $4,000 integer mark cannot be broken, making the Shanghai copper market show a pattern of flat oscillations. In the same way, we also saw that the electronic disk was also lower by Shanghai copper and there was a certain correction. We have noticed that due to the shift of the main force to the far month, the various contracts in the far month are quite defensive, but the overall position is still falling. However, even though the market turnover is more active, especially the Shanghai copper gapped continuously. After the rise, the market is expected to have a certain correction, especially after the end of the third Wednesday, the market has the potential to advance overdrafts. The domestic spot is still tight, and the demand is so strong that the extent of market decline is limited. The current market still needs to maintain long thinking.
Aluminium also saw a slight decline overnight, and the market closed at US$1,980. We see that Lum Al has slowed the pace of growth, but this will not change the strong structure of Lum Al, but also from the performance of domestic aluminum in Shanghai. Market speculative buying has room for profit taking, and the market is also buying and not buying or falling, resulting in a decrease in sales volume at the same time. Due to the rise in the previous period, the market has the need to understand profitability, and currently may oscillate adjustments. Continue to buy.
Chuangyuan Futures Lin Yuqing
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