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December 29 Copper Market Afternoon Review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Copper market noon comment: the market transaction was light during the external market holiday, and Shanghai copper closed up 70 yuan overnight; The European energy crisis remains, global copper inventories continue to decline at a low level, and rising supply concerns have boosted copper prices, which are expected to rise slightly today
.

Copper City

Central Bank Yi Gang: China's financial system is generally stable, and financial risks are generally convergent and controllable
.
The US FHFA house price index for October was 1.
1% m/m vs 0.
9% expected and 0.
9%
prior.
US Richmond Fed Manufacturing Index for December: previous 11, expected 11, released 16
.
The index hit its highest
level since July 2021.
The LME continued to close yesterday, US house prices exceeded expectations in the evening, inflationary pressures continued to rise, the US dollar rose slightly, and non-ferrous metal highs retreated
.

U.
S.
copper fell back overnight to close down 0.
82% and opened
slightly higher today.
Shanghai copper opened higher and lower in overnight trading, closing at 70400
.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
Copper prices continue to rebound in the short term, but the market confidence in the off-season is insufficient, and the range-bound market may continue in the medium term
.
Shanghai copper upper pressure 71500, lower support 67000
.
Today's international copper premium compared with Shanghai copper rose sharply to 711 points, and the external trend was stronger than the internal market
.

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