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Today's Shanghai copper continued to rebound the market, after a slight weakness in the morning to stabilize, there was a strong momentum again at midday, and the main 2202 contract of Shanghai copper closed at 70180, up 680, or 0.
98%.
In terms of news, Russia cut off the supply of European natural gas pipelines, high energy prices in Europe put pressure on industrial production, and the market is worried that supply reduction will raise the price of
non-ferrous metals.
On the other hand, the US index slipped at a high level, releasing non-ferrous prices, and many factors on the side promoted the rebound
of copper prices.
Fundamentals and funds, near the end of the year demand began to decline expectations, and the next year copper price outlook is weak, or the funds near the end of the year or some of the positions, the poor power pattern on Shanghai copper 70,000 pressure, is expected to maintain a range shock market in the near future, Shanghai copper main pressure level of 7-70,500.
Beware of intraday or recent surge and fall
.
In terms of operation, the merchant is mainly wait-and-see, appropriately dumping goods, and downstream stocking
.