Five years ago, the price of copper was only more than 20,000 yuan a ton, but two years ago, the price of copper rose to more than 80,000 yuan a ton.

This wave of asset price increases is not only related to copper, but also to the non-ferrous metals industry.

In the process of rising asset prices, the non-ferrous metal industry ushered in a stage of rapid expansion, in which the cost of non-ferrous metals increased significantly.

The Southern Group is a prime example of this, where the cost of raw materials has increased dramatically since the purchase of mines at a time when copper prices were at historically high levels, and the cost of products has remained high ever since.

This situation is not an isolated case in the non-ferrous metals industry, but a fairly common phenomenon.

The high cost has made the price of copper metal even though it has now fallen below the cost price, but the downward trend is difficult.

Almost all copper producers like the Southern Group have the illusion that cost support is the most effective. The price of copper, which has fallen below the cost, is unlikely to remain depressed for a long time, as long as it persists, it will eventually usher in the day of turnover.

If this illusion of production enterprises is not shattered, copper prices will not continue to fall sharply, and it will take a very solid event to break this illusion. Such an event must be weighty enough to be irresistible to all. And for now, apparently, there is no such event to shatter this illusion.

The reason why Li Xin dared to sell and open a short position at a price of more than 62,000 yuan more than two months ago was because he clearly saw the serious mismatch between the market supply and demand situation and the price. At that time, he stayed out of the way, just like he looked at the forest from a distance, and could see the whole picture of the forest.

But since he sold and opened a position, he has only been in this mountain. He was swayed by the fluctuating prices all day long, like a person walking through the forest, and he only saw concrete trees in front of him, and it was a luxury to see the whole picture of the forest.

Now he sees that the price has been unable to break through downward, and has gradually forgotten the original intention of selling and opening a position.

Li Xin, who was worried that the price would rise sharply and lose the best opportunity to close the position, arrived at the office earlier than usual this morning.

Restless, he sat in the office for more than 20 minutes, and finally waited for the moment of the call auction.

The opening price was 52,390 yuan, which was 390 yuan higher than yesterday's closing price.

This price was somewhat unexpected by Li Xin.

said that this price was beyond Li Xin's expectations, not because it had a relatively large gap up, on the contrary, in Li Xin's heart, he thought that the gap was a little low.

He clearly remembers that on the second day when the price of futures copper was hit on the falling limit, that is, on September 17, the opening price was more than 800 yuan higher than the closing price of the previous trading day, and the London copper price fell sharply following the domestic copper price at that time.

But yesterday's situation was different, the decline in domestic copper prices was far from reaching the fall limit, and the London copper price was a huge shock at night, showing a bottoming out and rebounding posture. In this case, the magnitude of today's gap of 390 points is somewhat insignificant, and the magnitude of this gap is only about the same as yesterday's gap high.

It stands to reason that stimulated by the relatively positive news of the relatively positive trend of copper prices in London last night, the bulls should take the opportunity to make today's opening price a little higher.

Because yesterday and the day before yesterday, when the decline was clearer, the bulls could have made the opening price very high, why didn't they do so today when the conditions were more clear?

Could it be that this is the result of the main force of the bears who saw through the method of the main force of the bulls yesterday and the day before yesterday to raise the opening price, and increased their efforts and the bulls today?

That's how it should be.

Today's situation is a little different, if the main bears want to defend their results, if they don't make some efforts on the opening price, once the opening price is controlled by the bulls to rise too much, the whole trend is reversed and then it will be a little difficult to exert force.

said that it was too late, and before Li Xin could thoroughly understand the reason, at 9 o'clock, the trading in the futures market began.

Li Xin did not make a mistake, today's opening price of 390 yuan is really the result of the main bears' hard work.

After the opening, the price of copper futures did not rise rapidly in dozens of seconds after the opening of yesterday and the day before yesterday, but fell rapidly as soon as the market opened. Just 8 minutes later, the price fell to 51,620 yuan, which broke through the new low of 51,900 yuan just yesterday.

Li Xin, who has been worried that the price will rise sharply after the opening, and lost the opportunity to close the position at a low level, is very happy to see this situation: it seems that the determination of the main bears to suppress downward is still very resolute.

But this situation did not last long, the price fell to 51,620 yuan and then stopped, after 3 or 4 minutes of shock finishing, the price appeared a wave of rapid rise, just 10 minutes later, 9:25 The price was pulled to 52,500 yuan.

That is to say, in just 20 minutes, the price has risen by almost 1,000 yuan from low to high.

Such a huge fluctuation has never been seen in the previous three days of sharp price decline.

After the price rose rapidly to 52,500 yuan, it was immediately beaten down by the seller, and at 9:40 five minutes later, the price fell to 52,000 yuan. This engulfed half of the 1,000 yuan upside that had risen in more than ten minutes.

If the price continues to go down at this time, falling to a new low near 51,620 yuan, or even lower, then it means that the price has the possibility of continuing to fall like yesterday and the morning before yesterday.

But this is not the case, the price came to the position of 52,000 yuan and began to rebound again, although the speed of the rise is not as fast as the wave of rise before 9:25, but it is more stable, more careless.

This wave of rise lasted for 53 minutes, and at 10:33, the price rose from 52,000 yuan to 52,460 yuan.

After that, it took 20 minutes for the price to slowly pull back to 52,240 yuan at 11:03 a.m.

10 minutes later, the price rose to 52,430 yuan.

Although the price pulled back to 52,370 yuan at the close of trading at 11:30 a.m., Li Xin looked at this morning's time-sharing chart and felt even more uneasy: although after hitting today's intraday high of 52,500 yuan at 9:25 a.m., the price did not break through this high again. But the bottom of each pullback is getting higher and higher, which is in stark contrast to the tick chart that went lower and lower in the previous three mornings.

Recall the impulsive rally that continued to occur near the intraday low yesterday afternoon, which was clearly a signal for low buying to enter the market. This is the case again this morning, indicating that today's buying has been more enthusiastic under the influence of the sharp consolidation of copper prices in London last night and the signs of stabilizing at low levels.

Li Xin, who thought that it was impossible to have a lower price today, decided to close the position as soon as the market opened in the afternoon: the afternoon and a half hour was his only chance, and in the next month, he may not have the time and energy to pay attention to the trend of copper prices, and he couldn't think about leaving the position until after September 20.

As the saying goes, external causes work only through internal causes.

Before Li Xin himself thought it through, no matter how many times Yuan Jie persuaded him to make a profit at a low level, it was useless, and now he thinks that the price can't go down, and when he wants to close the position, no one can stop him.

Especially at 1:30 p.m., the price rose from 52,370 yuan to 52,580 yuan in two minutes, which was completely different from the sharp decline in the afternoon of the previous three days.

This strengthened Li Xin's judgment that copper prices were likely to rise sharply, so he did not stop for a moment and immediately began to buy and close the position.

At this time, what Li Xin is most afraid of is the rapid rise in prices, and the price decline or shock is the best thing for him, because it is conducive to him to buy and close all the 4,000 short orders in his hand before closing.

Fortunately, the market gave him this opportunity, and during the afternoon trading hours, the high point of copper prices did not exceed 52,580 yuan, nor did it fall below 52,100 yuan, and when it closed, the price was 52,460 yuan.

The price fluctuated back and forth at a low level, creating the best opportunity for Li Xin to buy and close the position. At the beginning, he also chose the price at which he closed the position, and later he simply chose to close the position at the opponent's price, which greatly accelerated the speed at which he closed the position.

After all the positions in the account were closed, he sat in front of the computer and breathed a sigh of relief, the heavy burden that had been carried on his body for several months was finally unloaded, and he felt an inexplicable relief.

This ease did not come entirely from the fact that the floating profit of more than 150 million yuan in the account had turned into actual profits, which had been dangling in front of his eyes for so long, and he had long been accustomed to it, and the profits he had expected were much more than that.

He felt relaxed because the invisible pressure in his mind was now completely gone.

It feels like a person who has traveled a long distance, and after walking through thousands of rivers and mountains, he can finally sit down and rest at his destination.

Although this kind of long journey is supported by firm faith, where is the erosion of rain, snow, wind and frost along the way can be summed up as painful and happy? Only those who have experienced it know how wonderful it is to finally be able to sit down after all the hardships!

Li Xin's move to close the position immediately attracted Yuan Jie's attention, she silently paid attention to the changes on Li Xin's account, and after watching the positions on Li Xin's account completely cleared, she picked up the phone and called Li Xin: "Congratulations, you have made a lot of money!"