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April 20 copper market afternoon review

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

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Copper market afternoon commentary: the dollar continued to strengthen to put pressure on nonferrous metals, overnight London copper high fell back to close down 0.
08%, global economic growth is less than expected, domestic spot fear of heights still exists, demand is still light, it is expected that copper will fall
today.

Copper City

Russia and Ukraine are still fighting fiercely, and the United States may soon launch a new round of sanctions
against Russia.
Some Fed officials expressed hawkish views
.
The total number of housing starts in the United States in March was the highest
since June 2006.
The market expects the central bank to cut the LPR lending rate today (to be announced at 9:15 today), and the offshore yuan plunged overnight due to a large number of foreign capital
flights.
The dollar rose to a new high, and non-ferrous metals fell
across the board.

Yesterday, London copper opened sharply higher, rushed back down during the day, fell sharply in overnight trading, and opened slightly lower at $10,318 today
.
Shanghai copper opened low and fell to close in the shade at 74580
overnight.
Shanghai copper trading is stable and positions are declining, and market sentiment is biased towards wait-and-see
.
The epidemic situation in Shanghai is gradually stabilizing, market expectations are beginning to improve, and the overall market sentiment is strong, 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 compared with Shanghai copper dropped significantly to 905 points, overnight RMB fell sharply support, the internal disk is significantly stronger than the external market
.

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