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Trade Service
Today, the main force of Shanghai copper first rose and then suppressed
.
At the end of the day, the main 2207 contract of Shanghai copper closed at 72810, up 110, or 0.
15%.
On the overseas macro front, the European Central Bank will launch an interest rate decision tonight, and if Lagarde cannot announce a continuous 50 basis point interest rate hike, it is expected that the euro will not shake the status of the dollar
.
Combined with the current market performance, the US index is likely to fluctuate strongly, and copper prices may have downside risks
at night.
Crude oil prices are soaring, seasonal demand is about to peak in summer, many institutions have raised their forecasts again, and high inflation has helped copper prices remain high
.
The LME continues to destock, and the short-term low inventory support logic remains unchanged
.
According to domestic data in May, the recovery speed of the demand side is not as fast as expected, and market confidence is limited
.
In the medium and long term, the OECD has once again lowered its global GDP growth forecast, and the macro is under pressure
.
In the short term, Shanghai copper is expected to maintain a volatile pattern, with a range of 72000-73000
.
Operationally, it is recommended that the merchant sell high and suck low, and take profits in time; Downstream stock can be
prepared on demand.
