February 11 Copper Market Afternoon Review

China's social financing increase in January was 6.
17 trillion yuan, a record high, estimated at 5,385 billion yuan, compared with 2,368.
2 billion yuan
in the previous month.
The US unseasonally adjusted CPI rose 7.
5% year-on-year in January, the highest since February 1982, and expected 7.
3% compared with 7%
in the previous month.
U.
S.
initial jobless claims last week were 223,000 versus an estimate of 230,000 versus 238,000
in the previous month.
The market now expects the probability of a 50 basis point rate hike by the Fed in March to increase from 30% to 55%.

Yesterday's Chinese capital data greatly exceeded expectations, and the probability of interest rate hikes in the United States increased, but before the Fed's statement, inflation data still dominated the market, and most non-ferrous metals rose
.

Overnight, London copper rushed back to close Xiaoyang, closing at $10182, and U.
S.
copper opened
slightly lower today.
Shanghai copper opened sharply higher in the night session, rushed back to close Xiaoyang, closing at 73390
.
Shanghai copper trading positions are basically stable, and market sentiment is biased towards
neutrality.
This week, domestic spot demand is still general, the external disk has driven copper prices to strengthen, short-term market sentiment may continue to strengthen, the space above the midline may be limited, it is not recommended to chase higher
.
Shanghai copper upper pressure 75000, lower support 70000
.
Overnight, international copper shrank slightly to 691 points compared with Shanghai copper, and the trend of the external market continued to be stronger than that of the internal market
.