Construction Securities (3.15): Copper, Aluminum

The "Risk Warning" section of the journal aims to describe the risk of long and short positions through the icon of the star flag. It can be used as a reference for investors when dealing with open positions. In practice, investors need to trade according to their own short-term lines. Different strategies and different varieties of fluctuations in the characteristics of a specific grasp. The specific star classification criteria are as follows: ☆ The reverse run range of new-year closing price may be less than 2%. ☆ ☆ The reverse run range of new-term closing price may be greater than 2%. ☆☆ ☆ The price range is reversed from the newer closing. The rate may be greater than 3%. ☆☆☆☆ The reverse run of the period from the newer closing may be greater than 4%. ☆☆☆☆☆ The reverse run of the period from the newer closing may be greater than 5%. Risk Warning: Bulls: ☆ Short Risks: ☆ Tips before the market: Orient: Copper: Affected by the US dollar rally, LME copper prices rallied in March, yesterday. In early trading, speculative buying was promoted. Copper prices oscillated upward, and a heavier return to profit appeared in the vicinity of 3250 US dollars. At the same time, due to the strong rebound of the U.S. dollar, copper prices fell back, and once fell below the 3,200 U.S. dollar mark during the intraday trading session, and rebounded late in the session, closing at 3,205 U.S./t compared to the previous trading day and falling by 20 U.S. dollars/ton. The fluctuation ranged from 3248.5 to 3193 US dollars/ton. Yesterday, the LME copper stocks fell by 700 tons to 4.9875 million tons. From the current trend of copper prices, the LME March copper pattern has somewhat adjusted downwards. Once the fund's long open positions are raised, the 200-300 dollars should be retraced. It is normal. Yesterday, domestic Shanghai copper showed upward trend of shocks, especially late in the day. Each contract regained ground last Friday. This is related to the 0503 contract entering into a later trading day today. The domestic spot price did not fall back yesterday. Affected copper prices, spot prices continued to rise yesterday, reported 32,310 yuan to 32,410 yuan / ton, the operation of the proposed opening to focus on whether the monthly change factor has an impact on the price of copper, the impact is not, rebound short, stop reference LME March copper 20-day moving average . Aluminium: Affected by the rebound of the US dollar, aluminum in LME on March continued its downward trend yesterday, compared to a closing price of US$ 1979/ton, which was a decrease of US$ 9/ton from the previous trading day. Yesterday, LME aluminum inventories fell by 3,550 tons to 562,500 tons. In the short term, the support below the aluminum price was at 1965 dollars. Yesterday, the domestic Shanghai aluminum market experienced a sharp decline after the spike, and the trading volume was still relatively large, indicating that there was a large gap between the long and short sides, and short-term follow-through should pay close attention to changes in trading volumes and positions. Yesterday, domestic spot prices fell to 16570~16600 yuan/ton. Operation should use the intraday oscillation short-term operation. Ma Hongqing: LME copper prices have fallen sharply in Monday's trading. The strengthening of the US dollar has obviously put a lot of pressure on the long position of the fund. The decline in demand in China has made the Fund’s prospects extremely uncertain, but the current price In terms of trend, the fund apparently has not yet reached the threshold for discarding, so the positions held by investors for short selling still need to be controlled. Technically, the LME copper price started to send short-selling signals, and the period's price fell below 3150 meaning the establishment of further decline. CU506 is expected to test the support level of 30300 on Tuesday. The closing price below 30200 means that further decline will begin. Overseas Express: LME Market Report: London March 14 News: Three-month copper on the London Metal Exchange (LME) closed down nearly 1.5% on Monday, weighed on the profitability of the US dollar and led to profit-taking sales. Three-month copper closed lower. US$44, to be reported at 3,198 yuan per ton, and the price of spot/three-month copper was quoted at 114/116 US dollars. “This quarter is coming to an end, and funds that have been long will likely end up with profits.” BBA, analyst at StandardBank in London, told Reuters “A close below 3,200 may cause a sudden sell-off because some investors are out of their positions. However, if the price rebounds from this period, it means that we expect the technical corrections that will occur will be delayed.” The U.S. dollar rose against major currencies and was driven by investors buying bargain-hunting dollars at 1715 GMT. The euro was quoted against the U.S. dollar at 1.3347 U.S. dollars and late in New York at 1.3460. The U.S. dollar strengthened against investors holding currencies other than the U.S. dollar. The attractiveness of dollar-denominated base metals has decreased. "The price is still in range, and it may rebound, so I do not rule out the possibility of a bullish trend," a trader said. Three-month copper was in early last week. Trading System It hit a record high of 3,300. The high point in the open outcry trade was 3,297. Another trader expects three-month copper support at 3,175/3,185 and resistance at 3,260/3,300. Securities trader Macquarie Bank said on Monday. LME’s open interest has increased significantly in recent weeks, coupled with strong futures prices, suggesting that new investment fund buying has taken place. Three-month aluminum fell by 18 US dollars to 1,972, but LME aluminum stocks decreased by 3,550 tons again. Three-month zinc fell by 13 US dollars to 1,427; three-month lead fell by 10 US dollars to 968. Three-month nickel fell by 225 US dollars to 15,850, three-month tin fell by 65 US dollars to 8,525. COMEX copper. City News: New York, March 14 News: Copper futures on the New York Mercantile Exchange (COMEX) closed lower on Monday. Small speculators and on-site self-operators used the strength of the dollar as an excuse to exit copper. “The market conditions are slightly light today. Not much. All base metals fell for the second day in a row. I think there are a lot of rolling trades on the floor. There are no tests on the upside and there will be further declines tomorrow,” said a copper broker. COMEX indicator, May copper 0.85 cents lower at 1.4705 US dollars per pound, intraday trading range today To between $ 1.4550-1.4830 Spot month March copper fell 0.60 cents to $ 1.4750. Copper futures contract volume was estimated at 11,000 lots. Last Friday reported 11,823 hands. Dealers said that the dollar continues to provide guidance for copper market participants.

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