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📅 2026-11-04 · SHFE Copper · Single-name brief

This report is provided by MacroTerms.com

Data as of: 2026-11-03 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)

Copper (SHFE.CU) Deep Analysis Report | Bearish Watch 106090 | 2026-11-04

Bearish. On the report date, the main SHFE copper contract closed at 106090 (down -1.39% from yesterday's settlement), approaching and effectively breaking below the near 20-day low of 106670. Technical momentum is weakening, and the supply-demand fundamentals remain bearish. Longs are actively reducing positions, indicating a clear bearish intent. Short-term technical correction is possible.

Single-name briefs Deep dive

SHFE GoldSHFE.AU 2026-11-04
SHFE.AU In-Depth Analysis Report | Scope for Recovery Amid Bearish Setup | 2026-11-04
SHORTneutral_context
Deep diveRead
SHFE SilverSHFE.AG 2026-10-09
Shanghai Silver (SHFE.AG) In-Depth Analysis Report | Bears in Control, Below 14745 Target 14220 | 2026-10-09
SHORTneutral_contextrevisedLegacy coverage
Deep diveRead
SHFE CopperSHFE.CU 2026-11-04
Copper (SHFE.CU) Deep Analysis Report | Bearish Watch 106090 | 2026-11-04
SHORTneutral_context
Deep diveRead
RebarSHFE.RB 2026-11-04
Rebar (RB2701) Deep Analysis Report | Increase in Long and Short Positions Breaks Below 20-Day Low, Bearish Outlook | 2026-11-04
SHORT1-5daligned
Deep diveRead
FiberboardDCE.FB 2026-11-04
DCE.FB(DCE.FB) Deep Analysis Report | Slightly Bearish Bias | 2026-11-04
SHORTno_house_view
Deep diveRead
Iron OreDCE.I 2026-11-04
Iron Ore (I2701) Deep Analysis | Bearish: Decrease in Position + Net Short Position, Looking at 667.5 Below | 2026-11-04
SHORTneutral_context
Deep diveRead
Japonica RiceDCE.RR 2026-11-04
DCE.RR(RR2612) In-Depth Analysis Report | Bearish: Rebound capped by 20-day moving average, maintain short positioning below 3536 | 2026-11-04
SHORTno_house_view
Deep diveRead
SHFE TinSHFE.SN 2026-11-04
SHFE Tin Main Continuous (SHFE.SN) In-Depth Analysis Report | Breaking Below the Lower End of the 20-Day Range on Rising Open Interest, Shorts Dominant | 2026-11-04
SHORTno_house_view
Deep diveRead

Previous briefs

2026-11-03：Single-nameSHFE.CU Deep Analysis Report | Pullback Near Pivot, Lower Band Bullish | 2026-11-03 View 2026-11-02：Single-nameCopper (SHFE.CU) Deep Analysis Report | Bearish Outlook on Range Low | 2026-11-02 View 2026-11-01：Single-nameCopper (SHFE.CU) Deep Analysis Report | Bearish Pattern Observed, Watching for Pullback to Support | 2026-11-01 View 2026-10-31：Single-nameCopper (CU2612) Deep Analysis Report | Bearish: Inventory Accumulation and Net Short Expansion | 2026-10-31 View 2026-10-30：Single-nameCopper (CU2612) Deep Analysis Report | Bearish: High Copper-to-Gold Ratio Amid Reducing Positions | 2026-10-30 View 2026-10-29：Single-nameSHFE Copper (CU2612) In-Depth Analysis | Bullish, Inventory Destocking + Premium Recovery in Tandem | 2026-10-29 View 2026-10-28：Single-nameSHFE Copper (CU2612) In-Depth Analysis | Bullish: Destocking + Premium Rebound, Night Session Breaks Pivot P | 2026-10-28 View 2026-10-27：Single-nameCopper (CU2612) Deep Analysis | Bullish: Inventory Drawdown + Premium Recovery | 2026-10-27 View 2026-10-26：Single-nameSHFE Copper (SHFE.CU) Deep Analysis Report | Bearish Observation 107900 Settlement | 2026-10-26 View 2026-10-25：Single-nameSHFE Copper (SHFE.CU) Deep Analysis Report | Bearish Watch | 2026-10-25 View 2026-10-24：Single-nameCopper (SHFE.CU) Deep Analysis Report | Bearish Logic Complete | 2026-10-24 View 2026-10-23：Single-nameShanghai Copper (CU2611) In-depth Analysis Report | Bearish Bias: Breaks Below 20-Day Channel Lower Band on Rising Open Interest | 2026-10-23 View 2026-10-22：Single-nameShanghai Copper (CU2611) In-depth Analysis Report | Bearish Bias: Inventory Drawdown Cannot Offset International Fund Position Cuts | 2026-10-22 View 2026-10-21：Single-nameShanghai Copper (CU2611) In-depth Analysis | Bullish Bias: Inventory Destocking and Domestic-External Resonance, 109833 as Bull-Bear Watershed | 2026-10-21 View 2026-10-20：Single-nameSHFE Copper (CU2611) In-Depth Analysis Report | Slightly Bullish: Destocking Plus Short Covering | 2026-10-20 View 2026-10-19：Single-nameSHFE Copper (CU2611) In-depth Analysis Report | Bullish Bias: Inventory Destocking and High Copper-Gold Ratio Resonance | 2026-10-19 View 2026-10-18：Single-nameSHFE Copper (CU2611) In-Depth Analysis Report | Bearish Bias: LME Inventory Down, SHFE Up; Seat Net Shorts Expand | 2026-10-18 View 2026-10-17：Single-nameShanghai Copper (CU2611) In-Depth Analysis Report | Bearish Bias: Inventory Turning Point and Expanding Net Short Positions | 2026-10-17 View 2026-10-16：Single-nameSHFE Copper (CU2611) In-depth Analysis | Bearish: Inventory Surge Combined with Expanding Net Shorts | 2026-10-16 View 2026-10-15：Single-nameSHFE Copper (CU2611) In-Depth Analysis Report | Bullish Bias: Inventory Destocking Coupled with Strengthening International and China Market Premiums | 2026-10-15 View

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