With the large-scale liquidation of long and short positions in the market, the subsequent trading volume of the copper futures market also fell to an average of about 50,000 contracts per day. This figure is barely back to normal, but market participants understand that this is the settlement time left by the long and short sides, and with the funds in place for both sides, the copper futures market is about to make waves again.

Sure enough, starting from June 29, the bulls began another rally. It's just that this rally, because the bears have enough preparations, and the investment banks have lowered their growth expectations for Shijie's main economic markets, so that this wave has not formed enough upward trend, and as a result, by mid-October, the price of copper futures is still hovering around $2,500.

However, this stalemate was finally broken in the quarter of '94, and the reason for this was a piece of news from South America.

According to the Financial Times, employees of Chile's state-owned copper company, the largest copper producer on Shijie, are disgruntling with management over compensation and other issues. In an interview with the media, the representatives of the labor side claimed that due to the general rise in the price of Shijie copper, the profits of Chile's state-owned copper industry in the first three quarters have risen sharply, and the corresponding labor remuneration has not changed accordingly, so they have restarted negotiations with the management with the intention of raising wages for the majority of labor. Zuihou also threatened that if the management did not agree to their demands, the labor union would not rule out a general strike.

When the news came, the international copper price immediately reacted, rising for three consecutive days, from $2,479 to $2,577 per ton, an increase of 4%.

Regardless of whether this news is true or not. From the current fundamentals, despite the Fed's continued interest rate hikes, the international economic growth is still rapid, and the economic growth rate of major Western economies led by the United States has exceeded 3% in the past three quarters, and the corresponding copper demand is also strong, and with the support of copper prices, the prices of other non-ferrous metals such as nickel and aluminum have also risen.

Therefore, although August is the traditional holiday season in continental European countries, the trading volume of the market has not fallen too much, and the price of copper futures has been hovering around $2,500, and the spot copper off-season has little impact on the price of copper futures.

Zhongshi knows. These are not the main reasons. After all, the fundamentals are only one-sided positive for a certain financial product, and if there is no capital to pull up, the corresponding price fluctuations will not reach the expected level. The reason why copper futures prices did not fall throughout the summer and autumn is because speculative funds remain in the market.

The reason why I know this. It's all because Zhong Shi has invested money in a hedge fund in the United States before. These hedge funds report their results to investors in the third quarter. Most of them mention the huge profits made in the non-ferrous metals market. Anyone with a bit of brains will understand the variety and direction of what these hedge funds are doing with a little thought.

"Zhong Sheng, I recently made more than $10 million in profits." When Bell Stone dialed Andrew's phone. I heard Andrew say excitedly on the phone.

Since leaving the market at the end of June, Zhong Shi has left some of the funds and positions in his account to Andrew, who is in London, and the total funds are not much, only 60 million US dollars. Zhong Shi also specially instructed Andrew, asking him to take going long as the general direction. Although Andrew obeyed Zhong Shi's orders and operated with a smaller amount each time, even so, he still blew up several positions. After fully seeing the turbulence of the copper futures market, Andrew became more and more cautious and conservative.

Therefore, when Zhong Shi heard that Andrew had actually made tens of millions of dollars, his first reaction was not to believe it, and he hurriedly asked, "You're not kidding, are you?" Zhong Shi roughly estimated that with the latest trend of copper, to make tens of millions of dollars, the basic position should be around 4,000 lots.

For a position of 4,000 hands, the margin will account for 40 million US dollars, which has reached a level of nearly seventy percent for Andrew's principal, and such a high proportion of capital occupation is very risky.

"Of course it's true, the recent copper surge, I continued to eat into the long position, plus the previous bottom position, unconsciously the total position reached 4,000 hands." Andrew also heard the surprise in Zhong Shi's words, and quickly explained.

Hearing Andrew's words, Zhong Shi didn't say a word for a long time, in his opinion, Andrew's radical operation is good, but these are based on the rise in copper prices, if the price of copper does not rise but falls, then all of Andrew's capital may be lost.

"Zhong Sheng, I heard a piece of news recently, and I don't know if it's true or not." Andrew waited for a long time, but didn't hear Zhong Shi speak, and deliberately changed the topic.

Zhong Shi came back to his senses and felt that he had thought a little too much, after all, Andrew had already made money, and it would be a little redundant to think about anything else at this time, so he followed Andrew's topic and asked, "Oh?" What do you hear? ”

"It is said that this Chilean incident is operated by some hedge funds, but I don't know whether the news is true or not." Andrew said cautiously on the phone. His voice was low, obviously afraid that others would hear him.

"Hedge funds operating in it?" Zhong Shi repeated these words, obviously not believing it. However, after being stunned for a long time, he suddenly remembered that this kind of manipulation of the guild might really be a ghost carried out by hedge funds, because he had heard a lot about this kind of thing in his later life.

Although this happened in Chile, it was precisely because it was in Chile that hedge funds were given room to operate. Because if it is a guild in the United States, based on legal and other factors, hedge funds are not easy to control. In Chile, hedge funds can clean up their responsibilities with just a few agents. Buying the heads of several guilds and then releasing such news is a simple matter for these Chileans, and the reasons they say are very open, even if someone checks, they can't find anything.

"What is the current state of the market?" Zhong Shi hurriedly asked again.

"Some time ago, the number of trading lots remained below the daily average of 80,000 lots, but the trading volume suddenly increased in the first two days. At one point, it reached 150,000 lots, and the volume has remained above 100,000 lots in recent days. "After this period of time, Andrew has developed these key figures at his fingertips.

Hearing Andrew's words, Zhong Shi's heart suddenly gave birth to a bold idea, although these data can't see anything, but it is likely to be another opportunity to rise, especially the news that Andrew inquired about, which confirmed Zhong Shi's conjecture.

"Zhong Sheng, are you ......" Andrew asked with some confusion, although he didn't say the rest of the words. But Zhong Shi already understood what he meant. Then he smiled and said, "Don't think about it, I haven't said anything about it again." ”

Hearing Zhong Shi's words, Andrew felt a little sorry and chatted a few words. Just ready to hang up. Zhong Shi hurriedly ordered: "Take advantage of the current profit to float a lot." Hurry up and leave. Maybe copper is going to fall sharply again. ”

Andrew smiled, didn't answer, and hung up the phone on his own.

Zhongshi knows. If it weren't for his own zuihou, Andrew would definitely continue to increase his position, but now he wants to close part of his position, because he has expressed his dissatisfaction, Andrew will definitely have some scruples.

After thinking about it, Zhong Shi dialed Brian's phone: "Brian, I'm Zhong Shi!" ”

There was a commotion on the phone, and then a familiar voice rang out: "Where are you?" Belch...... Hello Mr. Chung! Hello! Brian complimented hurriedly, his voice bordering on flattery. At this time, if Zhong Shi appeared in front of him, I am afraid that he would be groveling and begging in every possible way.

Thanks to Bell Stone's operation, Brian's commission for the company in the first half of the year reached an all-time high, reaching millions of dollars. He just boasted about his "brilliant" record in the copper market with a new intern, and directly made the beautiful intern confused, and looked at Brian's eyes full of fascination, Brian thought that there was a play tonight, and was preparing to book a restaurant and hotel, preparing to spend a romantic Spring Festival, but Zhong Shi's phone call came at this time.

Brian was very upset, but as soon as he heard Zhong Shi's voice, he immediately left the beautiful intern behind and asked cautiously, "Mr. Zhong, is it you?" It's been a long time, are you okay? ”

Zhong Shi rebuked a little speechlessly: "I'm looking for you to say hello?" Stop your nonsense, what's the latest copper market? Although he had already learned the relevant news from Andrew, Brian was a more professional person after all, and the agents would exchange news with each other, which was what he wanted to know the most.

Brian hurriedly briefly explained the recent trading situation, and added at the end: "Mr. Zhong, do you need leverage?" For large customers like you, the company has decided after research that it can provide you with a leverage of up to 50%! ”

For Brian's news that he never forgets to sell leverage, Zhong Shi is even more speechless. For brokerage firms, interest can be charged for promoting leverage. If they are more greedy, they can also ask for a share of the profits, and they don't care about the risk, in case of losses, the first to ask them to make up the funds will not be the exchange, but the brokerage company, because they have to first take back the leverage they put out safely.

If the amount of funds is insufficient, Zhong Shi will naturally negotiate with the brokerage company and ask them to provide leverage, but there is no need for this now, and it is estimated that he will never have the need to increase leverage again in the copper futures market.

"Brian, wait for my call tomorrow!" Seeing that he couldn't get any useful information from Brian's mouth, Zhong Shi hung up the phone.

Despite the beeping voices already coming from the phone, Brian still said respectfully, "Yes, sir!" After hanging up the phone, he reached out and wiped the sweat on his forehead, and then noticed that there was a beautiful intern next to him.

"Whose phone is it?" Seeing Brian's reaction, the intern named Daisy couldn't help but ask curiously.

"It's the customer I told you just now, a big customer who earned more than $200 million in the copper futures market in the first half of the year!" Brian didn't even think about it, so he blurted out.

"Didn't you just say, not yourself?" Daisy frowned, then turned away, leaving Brian with an infinitely beautiful back.

Looking at Daisy's departing figure, Brian was so annoyed that he wanted to slap himself in the face, he knew that the spring night was gone. (To be continued......)

PS: Thank you for the monthly pass support of BMW 318! Thanks for tipping me again in my thoughts! At the same time, I would also like to thank many new book friends who have come to pay attention to this book recently, and Xiexie everyone has supported ~