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Today's Shanghai copper main force first rose and then suppressed, maintaining a narrow range
in the afternoon.
At the end of the day, the main 2204 contract of Shanghai copper closed at 72880, up 90, or 0.
12%.
Copper prices are now back to fundamentals guidance
.
Global inflation is high, and the Fed is expected to raise interest rates
multiple times this year.
Domestic fiscal and favorable financial policies continued to exert force
.
Overseas tightening is bearish to hedge domestic policies
.
At present, the overall copper price is still at a high level, and the downstream wait-and-see mood is strong; Coupled with the regional control caused by the epidemic, the overall domestic copper demand and consumption are relatively low
.
In terms of supply, global inventories continued to recover; The LME is rumored to have proposed a ban on Russian copper from warehouses, and copper prices could become more volatile as a result
.
In the short term, copper prices will remain volatile
at a high level.
In the medium term, it may fall back to a reasonable price range
.
Operate the shipper to ship at a high price, and the downstream needs to stock up on the low, and wait and see
for the time being.
