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Trade Service
Today, the main force of Shanghai copper jumped
downward.
At the end of the day, the main 2209 contract of Shanghai copper closed at 61480, down 1240, or 1.
98%.
In line with the previous expectations, during the Fed's interest rate hike window, the macro side gave way to the fundamentals, and copper prices fluctuated
greatly due to domestic news.
Affected by the national reserve event last week, the main force of Shanghai copper once exceeded 63,000, but with the cliff-like decline in social finance data and the poor performance of the July economic data released within the day, copper prices turned downward, and London copper fell below $
8,000.
At present, copper stocks are still tight but expected to improve, and downstream consumption is actually weak
.
Pressure on recession and liquidity tightening expectations hanging over the top is still limiting, limiting the room
for copper prices to rebound.
Short-term market sentiment is bearish, Shanghai copper or weak volatility, focus on support level 61000
.
