morning closehouseoffunbonus, the main domestic futures contracts became popular in large areas. Shanghai Bank closed its daily limit, up 8%houseoffunbonus; International copper, soda ash, and Shanghai copper rose by more than 5%, manganese and silicon rose by more than 4%, and liquefied petroleum gas (LPG), alumina, Shanghai nickel, and styrene (EB) rose by more than 3%. In terms of decline, urea, rapeseed meal, corn, peanuts, and starch fell slightly.
After silver breaks, the upper space opens
The continued decline in U.S. inflation data last week prompted the market to increase its bets on starting interest rate cuts in September, but the data may not be enough to make the Federal Reserve turn quickly. The interest rate cut game will continue, and geopolitical risks are also extremely uncertain. The bullish mentality will be maintained during the precious metals shock. The gold price will test high resistance in the short term, and the upper space will open up after silver breaks. (SDIC Anxin Futures)
Silver is going crazy! "May be on the verge of a bull market"
Analysts said that in this round of recovery in the precious metals market, gold prices continued to set record highs, so gold attracted more market attention. Although silver has performed well, its price has not yet exceeded the 49% hit in 2011houseoffunbonusThe historical extreme value of US$79/ounce. However, supported by potential factors such as the widening gap between silver supply and demand, silver may be at the forefront of the strongest upward cycle in history. (China Securities Journal)
The risk of COMEX copper crowding still exists, and COMEX copper, Lun copper and Shanghai copper all hit record highs
The central bank and other departments have launched a heavy "combination punch" in the property market. The National Development and Reform Commission will take more measures to consolidate and expand the development advantages of the new energy vehicle industry. The market is expected to cut interest rates by the Federal Reserve within the year. The fermentation of multiple macro benefits and the market's concern about rising geopolitical risks have caused a sharp rise in copper, gold, silver, etc. Coupled with market expectations, the risk of COMEX copper crowding still exists, and COMEX copper, Lun copper and Shanghai copper have all set new record highs since their listing. Looking at the market outlook,
Dongwu Futures: The tight supply of copper concentrates on the supply side has not been effectively alleviated. The scale of production reduction in May is expected to further expand, while downstream demand is still resilient, fundamentals are still supported under passive replenishment, and copper prices remain strong.
Everbright Futures: At present, comex's copper position is still at a high level, so it may still ferment and continue to boost market sentiment. In the short term, before the key turning point event is seen, the direction may still be upward, but the deviation between expectations and reality is becoming more and more serious. The benefits and risks of being long are the same, so pay attention to controlling positions.
CITIC Construction Investment Futures: There is more macro atmosphere at home and abroad, coupled with macro funds, and copper prices are expected to remain strong in the short term. Currently, Shanghai copper has reached an all-time high, and U.S. copper has also engaged in local profit-taking trading behavior. Combined with the current cooling trend of overseas economic data, we are cautiously optimistic that copper prices will peak. In addition, the trading risk of external markets can only mobilize the flow of goods, which is expected to relieve China's inventory pressure in the next month, but the global accumulated pressure may still be difficult to alleviate.（SMM）