Horizontal price of copper prices can be diversified to find mid-line buying points

Shanghai Copper 1205 contract opened higher and lower on Wednesday, the final closing price of 60,490 yuan / ton, trading volume contracted 372,924 hands, positions decreased by 4,778 hands to 196,604 hands. In the night, the copper rose to the bottom and crossed the Yinxian.

Domestic and foreign copper prices both maintained their gains during the previous trading session on Wednesday, and the highs oscillated. Shanghai Copper was strongly adjusted by the strong guidance of the Shanghai Stock Exchange. Even if Fitch downgraded Greece’s sovereign credit rating to C, Lun Copper did not decline. The Greek turmoil in the euro zone was respite. The US Obama administration proposed to reduce the corporate tax rate from 35% to 28%, which is conducive to continued strength of the U.S. economic data. Macroeconomic factors are moving in a good direction, but the disk is tepid. European and American stock markets closed lower overnight and London copper oscillated within a narrow range within the range of 8200-8800. China's Li Daokui's interpretation of the economic situation in 2012 “stabilizes the word and changes the stability and changes will become the focus”, which will further convince us that China’s macroeconomic outlook will continue to pick up and that the deregulation cycle has begun. The above analysis will support our view of bullish copper prices in the medium term. In the short term, no matter whether the domestic spot consumption is sluggish, the discounted water expands, or the analysis from the technical level, it shows that the copper price will gradually fall into a wide range of shocks. On the one hand, the higher prices have not been supported by spot buyers. On the other hand, The early rise of digestion, so Shanghai copper or around the 58000-62000 range within a narrow range of shocks, while the 60-day moving average moving up, the operation strategy is amended to short-term can not be blindly short, the price adjustment to the 58500-59000 range can be more than a single midline Jiancang.

Short-term operation: The Shanghai copper 1205 contract entered the market with a single dip (59500-60500) at 60,000.

Basic information of the day:

1. Chinese mining companies are advancing the pace of globalization. The reporter recently learned from China Minmetals Corporation that its Minmetals Resources Co., Ltd. has obtained more than 90% of the shares of Anvil Mining Limited and has acquired an absolute controlling share.

2. Mine spokesman Bernardita Fernandez stated on Tuesday that at the Collahuasi copper mine in Chile, the world’s third-largest copper mine, all mines, factories and terminals were stopped after a fatal accident occurred on a worker on Monday. A company source said that once the government inspects the copper mine, the operation of the copper mine is expected to resume normal on Wednesday.