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Affected by the optimism of macro sentiment, copper prices continued to rise, once approaching the integer mark of 75,000 yuan per ton
.
Friday's US non-farm payrolls data fell sharply short of expectations, reflecting the weakness of the US labor market and in line with the expectations of the Federal Reserve
.
In his speech at the end of April, Fed Chairman Jerome Powell stressed that the labor market has not yet recovered from the pandemic and that the Fed is in no hurry to shrink monetary policy
.
From the perspective of supply and demand, the current high copper price has had a certain impact
on downstream copper processing enterprises.
Although it cannot be transmitted to the upstream supply side in the short term, the spot market has reacted
.
At present, Shanghai copper still has about 3,000 yuan of room to rise, and may hit a high of
78,000 yuan per ton next week.
However, chasing higher still requires caution in case of a sharp correction
caused by the closing of long positions in profit.
