April 6 Copper Market Afternoon Review

U.
S.
nonfarm payrolls changed by 431,000 in March vs 490,000 expected and 678,000
in the previous month.
The US unemployment rate recorded 3.
6% in March, which was lower than market expectations
.
The US ISM manufacturing PMI unexpectedly slipped to 57.
1 in March, the lowest since
September 2020.
Eurozone manufacturing PMI final for March was 56.
5, 57 prior, 57
expected.
The final service PMI in the Eurozone recorded 55.
6 in March, the highest since
November.
Ukraine suddenly announced its readiness to join NATO, the presidents of Russia and Ukraine may not meet, and the European Union announced the fifth round of sanctions
against Russia.
During the holiday, the economic data of Europe and the United States was better, and the market was stronger, but yesterday's Russia-Ukraine conflict regenerated variables, and non-ferrous metals rushed back down
in the evening.

Overnight, London copper retreated slightly higher, opening slightly lower at $
10,405 today.
London copper rose about 1.
4% during the holiday period and is expected to open above
74,000 today with the outside session.
The trend of London copper is better, and the spot season has arrived
.
Domestic spot demand has improved slightly, macro fundamentals are biased towards neutrality, short-term shocks, and medium-term trends are optimistic
.
Shanghai copper upper pressure 76500, lower support 72000
.
International copper rose to 1229 points compared with Shanghai copper, and the trend of the external market was still stronger than the internal market
.