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    Home > Chemicals Industry > New Chemical Materials > August 31 copper market noon review

    August 31 copper market noon review

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
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    Copper market noon commentary: macro atmosphere warmed up, Shanghai copper closed up 0.
    62% overnight; The third batch of dumping reserves is less than expected, Guangxi's power rationing upgrade has limited refined copper smelting capacity, domestic copper stocks continue to go to storage, and copper prices are expected to rise
    today.

    Copper City

    China stressed: Improve the system and mechanism
    of material reserves.
    The US second-hand housing contract sales index unexpectedly fell for the second consecutive month in July, falling 1.
    8% month-on-month and 9.
    5%
    year-on-year.
    Eurozone economic sentiment index for August 117.
    5, previous reading 119, expected 117.
    9
    .
    Yesterday, the LME was closed, and the economic data from the United States and Europe in the evening was less than expected, and non-ferrous metals rushed back down
    .

    Overnight, U.
    S.
    copper rushed back down to close Xiaoyang, and today U.
    S.
    copper opened
    low.
    Shanghai copper opened high and closed low at 70130
    in the night session.
    Shanghai copper trading declined, positions rose, and market sentiment was slightly optimistic
    .
    Copper prices rebounded in the short term, market sentiment improved, but the macro uncertainty in the future market is high, and the technical form of Shanghai copper is general, which may enter a range-bound market
    .
    Shanghai copper upper pressure 72000, lower support 65000
    .
    Today's international copper premium rose sharply to 717 points, and the external market was significantly stronger than the internal market
    .

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