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April 18 copper market noon review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Copper market afternoon commentary: the domestic central bank cut the reserve requirement to benefit the metal, Shanghai copper Friday night volatility closed up 0.
44%, poor logistics led to a decline in social inventory, some copper enterprises overhauled or stopped production, market supply and demand are weak, copper or rising
today.

Copper City

U.
S.
industrial output rose 0.
9% month-on-month in March, compared with 0.
4% expected and 0.
5%
in the previous month.
Over the weekend, the armed conflict between Russia and Ukraine seems to have intensified
.
After the close of trading on Friday afternoon, the central bank cut the RRR by 0.
5% across the board, in line with expectations, and did not cut interest rates
.
Therefore, the non-ferrous metals rose sharply on Friday and fell slightly overnight, and it is expected that the LPR loan rate adjustment on Wednesday may cut interest rates
.
The market was closed on Friday, the LME continued to be closed at Easter today, the US market opened today, and the US copper opened
sharply higher.

On Friday, Shanghai copper rose sharply on the day, and fell back to close in the night to close at 74880
.
Shanghai copper trading positions are declining, and market sentiment is biased towards
neutrality.
The epidemic situation in Shanghai has gradually stabilized, market expectations have begun to improve, and copper prices have continued to be strong recently
.
The overall market sentiment is good, and it is expected that copper prices will continue to fluctuate upward in April and may weaken
in May.
Shanghai copper upper pressure 78000, lower support 72000
.
Today's international copper premium fell slightly to 1050 points compared with Shanghai copper, and the external market trend was slightly stronger
.

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