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Today, Shanghai copper extended its overnight decline, rebounded slightly within the day to touch the 69,000 pressure level, failed again, and fell again
.
At the end of the day, the main 2109 contract of Shanghai copper closed at 68720, down 1070, or 1.
53%.
Overnight, U.
S.
retail sales data weakened more than expected, the market was worried about the continuity of economic recovery, the U.
S.
index rose sharply to suppress copper prices to bottom, Shanghai copper rebounded slightly on the basis of overnight lows within the day, close to the 69,000 previous support near the momentum is not good, there is a possibility
of pressure support conversion.
Under the pressure of domestic economic growth, copper fundamental consumption is not good
.
If it is difficult to return to the 69,000 mark in the near future, it will open a lower range
.
In the case of a stronger dollar, copper prices showed a more obvious decline
.
However, yesterday's spot premium quotation also remained at a relatively high position, and some brands also showed a relatively tight situation, so copper varieties have not yet weakened demand immediately after entering the off-season
.
At present, copper prices are expected to remain dominated by a volatile pattern
.
