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August 4 copper market afternoon review

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

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Copper market afternoon commentary: the epidemic caused by the virus dragged down the risk of economic recovery, and London copper closed down $57 overnight; The release of scrap copper sources, coupled with the opening of the import window, downstream consumption entered a wait-and-see state, and copper prices are expected to fall
today.

Copper City

State Administration for Market Regulation: will crack down on the speculation of automotive chips
.
U.
S
.
factory orders rose 1.
5 percent month-on-month in June, the 13th month in the past 14 months and returning to 2018 highs.
U.
S.
economic data exceeded expectations, but the recent global epidemic under the influence of the Delta virus has repeatedly reached new highs, market sentiment is pessimistic, overnight non-ferrous metals fell across the board, and the market pays attention to Friday's US non-farm payrolls data
.

Overnight, Lun copper rushed back to close the bardo, opening slightly higher at $
9560 today.
After the sharp decline in the daily trading of Shanghai copper, the night session opened sharply lower, and the shock closed Xiaoyang, closing at 70090
.
Shanghai copper trading is stable and 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 premium fell slightly to 498 points, still at a high level, and the external market was slightly stronger than the internal market
.

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