Brief review of Shanghai copper on October 16

China will continue to deepen reform and expand opening up, and treat domestic and foreign enterprises equally
.
The U.
S.
continued to see a large labor unemployment slate last week, with initial jobless claims of 898,000, the highest level since August 22, again showing that the job market is still struggling to return to pre-pandemic levels
.
The Yangtze River Delta region is about to start a new round of environmental protection rectification, which may limit production and stop production in some nonferrous industries
.
Supported by China's optimistic economic outlook and possible production restrictions on environmental protection, most non-ferrous metals strengthened
overnight.

Fundamentally, from January to September, the import of copper ore and its concentrate was 16.
359 million tons, an increase of 2.
3% year-on-year, which shows that Chile did not have an actual impact on China's imports in September due to factors such as the epidemic and strikes, and the domestic economy continued to pick up and the recent production and sales of new energy vehicles boomed, and copper demand may increase
.
In the short term, Shanghai copper prices maintain an upward trend, and it is expected that the recent copper price volatility is mainly
strong.
Pay attention to the main force of Shanghai copper around 5.
1-51,900
.
Operationally, it is recommended to stock up on the dip, and the holder will wait and see
after reducing its holdings.