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Today's Shanghai copper volatility fell and stabilized, and the main 2103 contract of Shanghai copper closed at 58720, down 90, or 0.
15%.
In the off-season of consumption, downstream demand weakened, and copper prices entered the stage of correction and consolidation, which may maintain a high level of volatility a few years ago
.
It is recommended to pay attention to the Fed's interest rate decision on Thursday, which is expected to be weak and stable at night, and pay attention to the support of 58,500 at night.
Yesterday's market expectations for pre-holiday liquidity tightening heated, risk assets are generally under pressure, as far as copper is concerned, the market is now more concerned about the Fed's interest rate decision on Thursday, expectations will be consistent with before, the dollar index sideways
.
From a fundamental point of view, although it is still in the off-season of consumption, global copper inventories have not ushered in the inflection point of accumulation, maintaining the view
that copper prices continue to fluctuate strongly.
In addition, short-term macro uncertainties may also have a greater impact on copper prices, and it is necessary to pay close attention to liquidity changes and the risks brought by the resurgence of the domestic epidemic in the
near future.
In the spot market, holders maintain their willingness to hold prices, downstream demand is weak, a small amount of rigid purchases, and the transaction is not good
.
The US bailout bill may encounter obstacles, the global epidemic has worried the demand outlook, and the downstream factories are gradually closed for the Spring Festival, and copper prices may be temporarily under pressure
.
