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August 17 copper market noon review

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Copper market afternoon commentary: the spread of the epidemic suppressed market risk appetite, overnight London copper closed down $81; The two mines in South America have basically reached a labor agreement, but weak domestic economic data has caused demand concerns, and copper prices are expected to fall
slightly today.

Copper City

In terms of news, China Securities reported that the RRR
may be lowered again in the fourth quarter.
U.
S.
consumer confidence hit its lowest level in nearly 10 years (the preliminary University of Michigan consumer confidence index fell to 70.
2 in August).

Yesterday's China's July economic data fell short of expectations, the situation in Afghanistan changed greatly, and market risk aversion rose
.
The dollar rose, while non-ferrous metals mostly retreated
.

Overnight, London copper bottomed out and closed in the shade, opening higher at $
9467 today.
Shanghai copper fell sharply on the day, opening high and low at night to close at 69690
.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
The medium-term macro situation of Shanghai copper is uncertain, and there is technical support below, which may continue to fluctuate the market
.
Shanghai copper upper pressure 73000, lower support 68000
.
Today's international copper rise fell to 292 points, and the external market sentiment was not good
.

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