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December 18 copper market noon review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Copper market afternoon comment: optimism about the US bailout bill heats up, overnight London copper closed up 1.
6% approaching an eight-year high, global copper inventories continue to decline, China's automotive industry accelerated recovery, copper materials rose
today.

Copper City

Overnight, London copper opened higher and continued to rise sharply, closing at a new high of $7939, and U.
S.
copper opened
slightly lower today.
Shanghai copper overnight trading rushed back to close the doji at 58620
.
Shanghai copper trading declined, positions were stable, and market sentiment remained strong
.
China-Japan Shanghai copper is still expected to continue to rise, with upper pressure of 60,000 and lower support of 57,000
.

In the copper market, domestic and foreign inventories continued to decline, and strong foreign orders at the end of the year supported the market
.
However, high prices inhibited consumption, and the refined waste ratio expanded to more than
1,800 yuan on Thursday.
On Friday, the copper market faced resistance at $8,000, and whether this resistance is effective determines whether the upside of copper prices opens
further.

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