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📅 2026-10-20 · 上海期貨・銅主力 · 銘柄別深度レポート

本レポート提供元 MacroTerms.com

データ基準日: 2026-10-19 · 決済基準: 取引所決済価格（北京時間15:00終値、前回決済比）

SHFE Copper (CU2611) In-Depth Analysis Report | Slightly Bullish: Destocking Plus Short Covering | 2026-10-20

Direction conclusion: slightly bullish. SHFE Copper CU2611 [10-19 settlement] 109850 yuan/ton, +0.29% intraday versus previous settlement; main-force open interest down 8883 lots, nominal open interest down 4.875 billion yuan on the day, a short-covering structure of rising price on falling open interest; SHFE warrants [10-19] 35410 tons, down 976 tons on the day (-2.68%), LME inventory [10-16] 225425 tons, cumulative -29675 tons over the last 20 periods, with continued destocking on the inventory side as the core driver. Technically, price sits at the 60.9% percentile of the 20-day channel and above the next pivot P 109773.33; RV20 12.3% is below the international market's 16.2%. Risks: international market COT managed-money net longs have fallen for three consecutive weeks ([10-13] 61058 lots), and the Centinela strike in Chile has ended while BHP and South32 posted higher Q1 copper output, implying marginal supply loosening. Invalidation conditions: daily close below 109396.67 (S1) and the international market below 6.5255.

銘柄別深度レポート 深度分析

上海期貨・金主力SHFE.AU 2026-10-20
Shanghai Gold (AU2612) In-Depth Analysis Report | Slightly Bullish: Rising on Reduced Open Interest Awaits Confirmation, 906.75 Is Key | 2026-10-20
LONGdaily-briefdivergentrevised
深掘り読む
上海期貨・銀主力SHFE.AG 2026-10-09
Shanghai Silver (SHFE.AG) In-Depth Analysis Report | Bears in Control, Below 14745 Target 14220 | 2026-10-09
SHORTneutral_contextrevised旧カバレッジ
深掘り読む
上海期貨・銅主力SHFE.CU 2026-10-20
SHFE Copper (CU2611) In-Depth Analysis Report | Slightly Bullish: Destocking Plus Short Covering | 2026-10-20
LONGneutral_context
深掘り読む
上海期貨・鉄筋主力SHFE.RB 2026-10-20
Rebar (RB2701) In-depth Analysis Report | Bearish bias: rising open interest with price decline, inventory shifting upward | 2026-10-20
SHORTneutral_context
深掘り読む
リンゴCZCE.AP 2026-10-20
CZCE.AP(AP2701) In-depth Analysis Report | Bearish: Position increase breaks support, shorts active | 2026-10-20
SHORTno_house_view
深掘り読む
シリコマンガンCZCE.SM 2026-10-20
CZCE Ferrosilicon Main Continuous (CZCE.SM) In-depth Analysis Report | Slightly bearish: declining on reduced open interest, resistance at 5870 | 2026-10-20
SHORTno_house_view
深掘り読む
大連・鉄鉱石主力DCE.I 2026-10-20
Iron Ore (I2701) In-Depth Analysis Report | Short-covering rebound, treat as bullish | 2026-10-20
LONGneutral_context
深掘り読む
鶏卵DCE.JD 2026-10-20
DCE Eggs Main Continuous (DCE.JD) In-Depth Analysis Report | Bearish Bias: Position-Reduced Decline in Near-20-Day Low Zone | 2026-10-20
SHORTno_house_view
深掘り読む

過去のレポート

2026-10-24：銘柄別Copper (SHFE.CU) Deep Analysis Report | Bearish Logic Complete | 2026-10-24 見る 2026-10-23：銘柄別Shanghai Copper (CU2611) In-depth Analysis Report | Bearish Bias: Breaks Below 20-Day Channel Lower Band on Rising Open Interest | 2026-10-23 見る 2026-10-22：銘柄別Shanghai Copper (CU2611) In-depth Analysis Report | Bearish Bias: Inventory Drawdown Cannot Offset International Fund Position Cuts | 2026-10-22 見る 2026-10-21：銘柄別Shanghai Copper (CU2611) In-depth Analysis | Bullish Bias: Inventory Destocking and Domestic-External Resonance, 109833 as Bull-Bear Watershed | 2026-10-21 見る 2026-10-19：銘柄別SHFE Copper (CU2611) In-depth Analysis Report | Bullish Bias: Inventory Destocking and High Copper-Gold Ratio Resonance | 2026-10-19 見る 2026-10-18：銘柄別SHFE Copper (CU2611) In-Depth Analysis Report | Bearish Bias: LME Inventory Down, SHFE Up; Seat Net Shorts Expand | 2026-10-18 見る 2026-10-17：銘柄別Shanghai Copper (CU2611) In-Depth Analysis Report | Bearish Bias: Inventory Turning Point and Expanding Net Short Positions | 2026-10-17 見る 2026-10-16：銘柄別SHFE Copper (CU2611) In-depth Analysis | Bearish: Inventory Surge Combined with Expanding Net Shorts | 2026-10-16 見る 2026-10-15：銘柄別SHFE Copper (CU2611) In-Depth Analysis Report | Bullish Bias: Inventory Destocking Coupled with Strengthening International and China Market Premiums | 2026-10-15 見る 2026-10-14：銘柄別Deep Analysis of SHFE Copper: Bullish, Copper-Gold Ratio at Historical Extreme Percentile | 2026-10-14 見る 2026-10-13：銘柄別SHFE Copper (CU2611) In-depth Analysis Report | Bullish Bias: Inventory Destocking and Copper-Gold Ratio Resonance | 2026-10-13 見る 2026-10-12：銘柄別SHFE Copper (CU2611) In-Depth Analysis | International Market Strength vs. China Market Position-Cut Divergence, Bullish but Needs Confirmation | 2026-10-12 見る 2026-10-11：銘柄別SHFE Copper (SHFE.CU) In-Depth Analysis Report | Bullish | 2026-10-11 見る 2026-10-10：銘柄別In-Depth Analysis of SHFE Copper: Bullish Bias and International vs. Chinese Market Premium | 2026-10-10 見る 2026-10-09：銘柄別旧カバレッジSHFE Copper (SHFE.CU) In-Depth Analysis Report | Bullish Bias | 2026-10-09 見る 2026-10-08：銘柄別旧カバレッジShanghai Copper In-Depth Analysis: Bullish Bias, Driven by International and China Market Premiums and Warehouse Receipt Drawdown | 2026-10-08 見る 2026-10-01：銘柄別旧カバレッジSHFE Copper (SHFE.CU) In-Depth Analysis Report | 2026-10-01 Bullish Bias: Rising Open Interest with Warehouse Receipt Drawdown | 2026-10-01 見る 2026-09-30：銘柄別旧カバレッジSHFE Copper (SHFE.CU) In-Depth Analysis Report | 2026-09-30 Bullish: Low Inventory and High Premium Support | 2026-09-30 見る 2026-09-29：銘柄別旧カバレッジSHFE Copper (SHFE.CU) In-Depth Analysis Report | 2026-09-29 Pre-Holiday Position Reduction vs. Inventory Drawdown | 2026-09-29 見る 2026-09-28：銘柄別旧カバレッジShanghai Copper In-Depth | Low-Volume Pullback to MA20, Pre-Holiday PMI Pricing Window | 2026-09-28 見る

⟠ 今月の戦略バックテスト

日報AI取引アイデアを日次で客観精算 · ストップ/ターゲット自動判定

* バックテストは日報の取引アイデアを日次で精算：ストップ/ターゲットの先到を優先、期間末は終値で手仕舞い。過去の成績は将来を保証しません。