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April 4 Shanghai copper morning review

 Last Update: 2022-12-09
 Source: Internet
 Author: User

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Overnight, Shanghai copper opened at 50420 yuan / ton, the overall oscillation ran between 50250 yuan / ton and 50500 yuan / ton, touched 50570 yuan / ton, tested low 50210 yuan / ton, and the amplitude slowly narrowed
.
Closed at 50430 yuan / ton, up 40 yuan / ton
.
In terms of spot, yesterday afternoon trading was sporadic, and holders have begun to gradually decline the premium to seek transactions, and it is expected that today's premium is 0~50 yuan / ton
.

Shanghai copper

The market focused on this week's non-farm payrolls report and Powell's speech, and from the previous strong economic data, the non-farm payrolls has the potential to
boost the dollar in the short term.
At the same time, China announced the first tariff list of US imports, followed by the US release of the "$50 billion" tax increase proposal list, the Sino-US trade dispute escalated, if the situation worsened, it may trigger market risk aversion again
.

Driven by the sharp rise in the external market, Shanghai copper night trading continued the daytime rally, suppressed by the large increase in previous inventory, the increase was slightly limited, but still stood firm at the 50,000 mark, copper prices returned to fundamentals dominant, because the current peak season demand is not as expected, technical pressure is gradually released, fundamental recovery is relatively slow, it is expected that Shanghai copper in the short term or maintain consolidation
.

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