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Copper market afternoon commentary: the stock market is soft, metal under pressure, overnight London copper continued to fall 0.
58%; The data shows that the growth of the global manufacturing industry has slowed down, and the domestic social inventory has declined, but the downstream demand has not improved for the time being, and copper is expected to fall
slightly.
Fed: If inflation continues to go higher, then we will have to raise interest rates
for a longer period of time.
It is hoped that the policy rate will reach 3.
75%-4%
by the end of the year.
The RBA announced a 50 basis point rate hike to 1.
85%.
Sino-US relations have become the focus of the near future, and the current trend is still unclear
.
Market panic rose significantly overnight, with the dollar soaring and most non-ferrous metals falling
.
Overnight, London copper bottomed out and closed in the shade, opening slightly lower at $
7,736 today.
Shanghai copper bottomed out and closed at 60030
.
Shanghai copper trading rose, positions fell, and market sentiment was biased towards wait-and-see
.
The supply and demand situation is neutral, the macro uncertainty is high, and the future market may continue the trend of high volatility, and the overall trend tends to be neutral, focusing on the macro situation
.
Shanghai copper upper pressure 65000, lower support 58000
.
Today's international copper premium compared with Shanghai copper rose to 230 points, and the internal and external market trends are roughly the same
.
