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Trade Service
Today's Shanghai copper rushed higher and then retreated, closing at 72380, up 0.
99%.
Overnight, the Federal Reserve kept QE unchanged, loose monetary policy continued, and the US index was weak at a low level, releasing pressure on the external gold market
.
At present, global commodity inflation expectations still exist, coupled with the approach of the May Day holiday, the increase in domestic smelter maintenance, and the upward sentiment of stocking, which continues to boost the market's enthusiasm
for long.
However, it is worth noting that there is still pressure above the $10,000 mark above London copper, and it is expected that the recent copper market will fluctuate at a high level, and the night session may fall back to stabilize, and Shanghai copper will pay attention to the pressure before 72,800
.
At present, there is not much change at the macro level, the market is still immersed in the stimulation of quantitative easing policies, and the buying sentiment of the entire downstream is still high
.
Chile's congressional mining committee in Chile, a major exporter of copper mines, approved a bill that would impose a 15 percent tax on sales generated by copper prices between $2-$2.
50 per pound and a 75 percent marginal tax rate
on copper above $4.
The bill, which is still under discussion, would generate $7 billion a month in revenue for Chile and may have limited impact on international copper processors
.
Investors need to be aware of the sharp pullback caused by the bulls' bullish exhaustion and the possible black swan event
caused by the Fed's movements.
Strategically, it is recommended to hold the coin and wait for the end
of the pullback.
If the copper price falls to around 70,000 yuan per ton, you can consider entering the market for more than once
.
