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On Tuesday, the Shanghai copper intraday pressure 51000 area gradually retreated, and the evening low stepped back to the 50200 area, entering the expected turning downward trend
.
At present, the rhythm of Shanghai copper retreat is slightly repeated, in terms of price, you can focus on the 50,000 mark, if it closes lower or breaks the line, it is expected to enter an accelerated decline, and the medium-term downward target is still seen around 48,000
.
Copper markets fluctuated
at high levels on Tuesday.
However, fruitless negotiations on the US stimulus plan, a sharp rise in US Treasury yields and the deterioration of Sino-US relations have put pressure on the market, and the plunge in precious metals on Tuesday and the fall in the stock market have suppressed the speculative atmosphere in the market
.
In the copper market, LME copper stocks increased by 250 tons, although not large, but it is worth watching
whether this is a turning point.
In addition, LME spot has turned to a discount and continues to increase
.
Fundamentally, Peru's transport problems were solved
.
Europe's largest copper producer said the pandemic had less impact on copper supply than on consumption
.
Technically, the LME support level is $6300, and below this level, copper will fall
back towards $5500.
The domestic copper pressure is 51,000 yuan
.
Short-biased operations
on trades.
