But before the analysts' words fell, an urgent news broke on the television screen: negotiations between labor and management at Chile's state-owned copper industry had collapsed, and labor announced an indefinite strike from today until the management agreed to their terms.

Originally, the labor and management were going to hold a third round of negotiations the next day, but according to the news released from the previous two negotiations, it is very likely that the labor and management will reach a new agreement. It is said that the new agreement will increase the salary payment by 5%, although it is still some way from the 10% required by the labor side, but the market generally believes that a new agreement between the two sides is very likely.

The recent surge in copper futures prices has changed all that, so that labor is no longer satisfied with this 5% point, and has become extremely tough, insisting that the management agree to their 10% offer. Without waiting for the third round of negotiations to begin, the labor side unilaterally declared a strike.

They are also very particular about the timing they choose, and it is during the London copper futures trading hours that they want this effect, because the price of copper futures rises again, and the investors have no reason to refuse.

The price of copper is now nearly $300 higher than when Labor announced a wage increase, an increase of more than 10%. Compared with about $2,500 in August and September, it has risen by more than 15%. And since the beginning of the year, the increase has been more than 20%, and in this case, the idea of the labor side asking for a 10% salary increase is not too much.

The management side has its own considerations, and they are well aware that the copper price is currently on an upward trend, and the sustainability of this momentum is highly questionable, and in this case, if they want to rashly raise wages for labor. Production costs will remain high, and Chilean Copper's copper production may lose its share of the global copper market, which will ultimately hurt not only the employers, but also the workers who have been clamoring for a wage increase.

In any case, the capital market reacted to the news immediately, and the price of copper futures immediately rose, rushing to the $2,950 mark in less than five minutes.

"Zhong Sheng, are we still closing the position now?" It is clear that the bears were not prepared for this news, the defense in the high position was insufficient, so in such a short time the bulls attacked more than fifty points. Of course. It is not certain that this is only a pull up of the bulls. Because when some bears hear this reason, they are likely to choose to close their positions as soon as possible, which may also lead to the rise of copper futures prices.

When Andrew saw the sudden change in the market, he lost his heart a little. Eager to let Zhong Shi give a general direction of trading. There are two paths in front of Zhongshi now. The first is to continue to go long. It is even possible to pull the price of copper futures to $3,000 today, and the other is to close the position, because the rise in copper futures has become inevitable. The bears would certainly be more than happy to see that.

"Wait and see how the other bulls react!" Zhong Shi couldn't make up his mind for a while, so he could only use such words to perfunctory Andrew.

At this time, he was thinking more about whether this was a trap for some bulls, and the time point of the outbreak was set on Friday, because after a big rise on Wednesday and a small rise on Thursday, and then the news broke out at this time today, which was just conducive to the closing of the bulls, or had some other purpose.

If it is to close the position, then the news will not be sustainable, and even because of the bulls to close the position and make the price of copper fall, and if it continues to push up the price of copper, then the bulls will not close the position, and it is even possible to increase the position, the price of copper will likely break through the historical mark of $3,000 in one fell swoop.

The difference between these two situations is the difference in profitability for Tianyu Fund, and the difference between the two is even tens of millions of dollars, which cannot be considered by Zhongshi without careful consideration.

……

On the Sumitomo Trading Company's side, after hearing the news of the Chilean copper strike, Yasuo Hamanaka came to the trading room as soon as possible, and he personally handled the emergency this time.

"Open 1,000 more lots, and the December contract, all sell orders of $2,945 and below are cleared." Yasuo Hamanaka said with an expressionless face.

After being immersed in the market for so long, Yasuo Hamanaka already has a more accurate idea of the number of lots bought and sold in the market at certain moments. As is the case at present, there will certainly be a rush of buying in the market, whether it is new or empty, which will quickly push the price of copper futures higher in a relatively short period of time. Yasuo Hamanaka estimated slightly, and then fixed the 1,000 lot buy order below $2,945. According to his estimates, half of these 1,000 lots would be considered good if half of them could be traded.

Sure enough, three minutes later, the price of copper futures reached $2,950, which has broken through the highest price set by Yasuo Hamanaka, and the price of copper futures is still rising, but the momentum of the rise is not as fierce as when the news first came out.

"412 lots were sold, less than half!" Kenjiro Oshima walked over and leaned over and whispered in Yasuo Hamanaka's ear.

Yasuo Hamanaka nodded, and after a moment of silence, he suddenly said in a sonorous voice: "Gentlemen, the time has come for you to witness the historical price of copper!" ”

The traders were stunned for a moment, and soon they realized what Yasuo Hamanaka meant. The traders quickly exchanged glances, and almost all of them had expressions of extreme excitement on their faces. They knew that their boss had reacted to the sudden situation by pushing the price of copper futures to $3,000.

Sumitomo Trading's position has not closed much in the past two days, and they could have been like Bell Stone, gradually closing after $2,900, and then gradually changing the contract to a contract with a peak in December and January next year. However, Yasuo Hamanaka is not satisfied with the current profitability, so even if he makes a huge profit, he has no intention of closing the position.

Now with this once-in-a-lifetime opportunity to push up, according to the character of Yasuo Hamanaka, he will definitely not miss it. Because in this way, the price at which they close their positions will be much higher in the future, and Yasuo Hamanaka will not let go of any opportunity to expand profits.

It's just that the price of $3,000 is a bit inflated. Therefore, even though the traders were mentally prepared just now, they were particularly excited when they really heard the news from Yasuo Hamanaka.

……

The continuous large buy orders into the market immediately made the market originally a little hesitant bullish sentiment burst out, and the followers knew that the main funds finally reacted, and this reaction was to continue to pull up the copper price that has been somewhat inflated. Naturally, they rushed to enter the market to go long, hoping to get a piece of the pie in this wave of market.

"It's already $2,984, Zhong Sheng, we should have made a decision sooner!" Seeing that Zhong Shi still looks like an ancient well without waves. Andrew was even more anxious. No matter what. X-Spatial Fund has to make a certain reaction, regardless of whether this reaction is to continue to go long or close the position.

"Closing positions, we don't follow long, now the risk is too great." Bell Stone turned. His eyes were blazing on Andrew. Said word by word.

"What?" Andrew was taken aback. looked at Zhong Shi in disbelief, but when he saw Zhong Shi with a resolute face, he couldn't help but feel a little discouraged. The words that I wanted to dissuade came to my mouth and swallowed back, so I could only reply dejectedly: "Okay, let's take a look at it first." ”

As soon as the sell order of 1,000 lots appeared on the market, it was swallowed up in less than two minutes, and the price of copper futures did not fall even a dollar, but rose again after a two-minute pause at $2,985.

"Why didn't the bears react?" Andrew couldn't help but wonder a little, seeing 1,000 sell orders appear in the market, and there was not even a splash, he didn't dare to complain about Zhongshi, he could only complain about the shorts that could not be seen or touched.

Zhong Shi smiled slightly, and said indifferently: "Andrew, you are confused, now we are empty!" As he spoke, he pointed to the numbers on the screen and said meaningfully, "Do you know how we make deals?" If my estimate is correct, part of it is the closing order of panicked shorts, that is, double flat; The other very small part is the next one to follow the trend, that is, to change more, do you understand what this means? ”

"Can't stand it?" Andrew shook his head and asked rhetorically in surprise.

"Not bad!" Zhong Shi nodded and continued, "Don't look at the current rise in copper prices, most of them are short closing orders. Some bulls chose to continue to increase their positions at this time, resulting in a situation where short positions in the market were difficult to buy, which in turn exacerbated the rise in prices. If my guess is correct, it's likely that some bulls are doing the trick. ”

"I believe that when it reaches around $2,990, this bull will exert its strength, and it is likely to break through the $3,000 mark in one fell swoop. Of course, the bears will not sit still, and will definitely set up a strong defense at $3,000, and then there will be a fierce battle between the two sides. ”

"What about us?" Andrew asked.

Zhong Shi smiled slightly, and did not answer, he already understood what Andrew meant, but he did not plan to continue to go long, but took advantage of this God-given opportunity to close his position as soon as possible. Although several traders were also puzzled, they could only operate according to Zhong Shi's orders and quickly threw out closing orders in the market.

With a steady stream of closing orders, the bears also have enough funds to return, although Sumitomo Trading Company continues to open long positions, but Zhongshi also continues to throw out closing orders, the price of copper has become a fight between the two bulls, and the shorts who are eager to close the position are not to be outdone, and they also snap up long orders in the market to close the position, and the three parties Shili launched a dragon and tiger fight near $2990.

After closing a full 15,000 long positions, Zhong Shi's operation finally stopped, on the one hand, because the longs who continued to take over had shown signs of not continuing to take over, and on the other hand, as the shorts continued to close their positions, the funds that slowed down continued to open new short positions at a high level. If this situation is allowed to continue, I am afraid that it will not be long before the price of copper falls, which is definitely not in the interests of Zhongshi. Therefore, when it reached $2992, Zhongshi decisively stopped closing positions and began to go long slightly.

When the large sell orders disappeared in the market, the price of copper futures began to rise again, and soon approached the $3,000 mark. (To be continued......)

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