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December 4 copper market noon review

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

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Copper market afternoon comment: the euro area economy fell again, overnight London copper shock closed down $16, imported copper inflow improved inventory tightness, but copper concentrate processing fees TC remained low, today's copper material rose little
.

Copper City

US ISM non-manufacturing PMI for November: 55.
9; expectations: 56; prior: 56.
6, a six-month low
.
Eurozone services PMI final reading for November was 41.
7 vs 41.
3 prior, 41.
3
expected.
Eurozone retail sales for October: 1.
5%; Expected: 0.
8%; Previous value: -2.
00%.

Overnight, the U.
S.
Senate said it was working to push ahead with new stimulus policies, and the dollar continued to tumble to new lows
.
However, due to supply chain reasons, Pfizer halved its near-term vaccine production expectations, the market tends to be cautious, and most non-ferrous metals fall.

Overnight, copper fluctuated slightly lower to close at $7658.
5, and U.
S.
copper opened
slightly lower today.
Shanghai copper opened high overnight, rushed back down to close the small black line, basically closed flat at yesterday's closing price, closed at 56950, Shanghai copper trading rose positions fell slightly, the market wait-and-see sentiment rose
.
The technical pattern of Shanghai copper is still good, and it is still possible to rise again in the medium term after short-term adjustment
.
Shanghai copper upper pressure 58000, lower support 53000
.
Today's international copper premium compared with Shanghai copper significantly expanded to 454 points, and the internal trend was weaker than the external market
.

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