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Brief review of Shanghai copper on August 12

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

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Copper prices rebounded slightly overnight, and the market continued to tug around 70,000, with little change in trading
.
Today's Shanghai copper broke up, the rise after midday once converged sideways, as of the end of the day closed Shanghai copper main 2109 contract closed at 70410, up 490, or 0.
7%.

Shanghai copper

Overnight, the US CPI was unchanged from the previous value at 5.
4 but remained high, and inflationary pressures continued
.
Domestic social finance data is significantly lower than expected, the market is controversial about whether monetary policy is supported or not, and the stability of domestic demand is worth paying attention to
.
Spot premiums fell back to between 100 and 200, and downstream maintained rigid demand, and spot performance was tug-of-war
.

At present, the disturbance of Chilean copper mines is still the same, focusing on the recent changes in market confidence, and after the further upward transformation space of Shanghai copper, pay attention to the situation of the night finishing and stepping back, and maintain a high level with the improvement of the consumption side or better price support effect
.
It is recommended to pay attention to the volatility around 6.
95-71,000, operate the loader to take a small amount of inventory and wait and see, and properly prepare the downstream
at the low level.

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