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April 2 Shanghai copper afternoon review

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Overnight, the main 1905 contract of Shanghai copper opened at 49420 yuan / ton, the short-term touch at the beginning of the session was 49460 yuan / ton, and then guided by the external market, the bulls took advantage of the high exit, copper prices maintained pressure on the daily moving average oscillation downward, the second half of the plate began to accelerate the downward trend, quickly gave up all the gains of yesterday's day, the end of the session to test the lower 49040 yuan / ton, close 49130 yuan / ton
.

Shanghai copper

Today's data is light, focus on crude oil guidance, the current U.
S.
crude oil continues to rise, which has provided some support
to copper prices.
Spot prices are expected to turn around due to today's market price decline, and quotations are expected to rise
.
It is expected that today's Shanghai copper 49000-49500 yuan / ton, spot discount 20-liter 80 yuan / ton
.

Germany's manufacturing index slipped to an 80-month low, with manufacturing activity in the eurozone posting its worst monthly data in nearly six years, and subdued
industrial activity in major Asian exporters such as Japan and South Korea.
Poor manufacturing data in most countries around the world offset the positive impact of China's manufacturing PMI, macro optimism cooled, domestic inventories temporarily accumulated, and short-term spot copper price gains were limited
.

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