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    Home > Chemicals Industry > New Chemical Materials > December 10 copper market noon review

    December 10 copper market noon review

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
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    Copper market afternoon commentary: the ups and downs of the epidemic weakened risk appetite, and London copper closed down $102 overnight; Domestic spot premiums continue to decline, dragging down copper prices, coupled with weak demand for real estate and outdoor projects in the north, copper is expected to fall
    slightly today.

    Copper City

    People's Bank of China raise the foreign exchange deposit reserve ratio of financial institutions by 2 percentage points
    .
    In November, M2 increased by 8.
    5% year-on-year, 0.
    2 percentage points and 2.
    2 percentage points
    lower than the end of last month and the same period last year, respectively.
    U.
    S.
    jobless claims fell to 184,000 last week, the lowest level
    since 1969.
    The People's Bank of China responded to the pressure of the renminbi's appreciation, and the market expects the US CPI to reach a new high tonight, prompting the Fed to accelerate the pace of
    action.
    The renminbi fell sharply overnight, the dollar rose sharply, and non-ferrous metals fell
    back under pressure.

    Overnight, Lun copper rushed back down to close in the shade, and today U.
    S.
    copper opened
    slightly lower.
    Shanghai copper opened low overnight, oscillating to close the doji, closing at 69400
    .
    Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
    .
    The copper price rebound is insufficient, and there is consumer-side support below, which may continue the range-bound market in the medium term
    .
    Shanghai copper upper pressure 72500, lower support 67000
    .
    Today's international copper fell to 373 points compared with Shanghai copper, returning to normal levels
    .

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