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February 19 copper market noon review

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Copper market morning comment: China's economic activities gradually unfolded expectations are optimistic, overnight London copper closed up more than 2% to a more than nine-year high, clean energy development will drive demand growth, copper mine supply remains tight, copper is now up
today.

Copper City

Fed: Very low interest rates and asset purchases will be important conditions
to help the U.
S.
economy and labor market recover for the foreseeable future.
U.
S.
jobless claims for the week ended February 13 (million) posted 86.
1, 79.
3 in the previous month and 76.
5
expected.
The US Philadelphia Fed manufacturing index for February was 23.
1, 26.
5 prior, 20
expected.
Overnight, U.
S.
employment data fell sharply short of expectations, the Federal Reserve reiterated that it would maintain its existing sharply accommodative monetary policy, the dollar tumbled, and non-ferrous metals continued to be
strong.

Overnight, copper opened high and rose sharply to close Changyang at a new high, closing at $8606, and U.
S.
copper opened
slightly lower today.
After the daily rise of Shanghai copper, it fell back to close at 53230 after a new high in the night session, closing at 53230.
Shanghai copper trading positions are rising, short-term macro fundamentals support, market sentiment is better, copper prices may continue to be strong
.
Shanghai copper upper pressure 65000, lower support 60000
.
Today's international copper premium compared with Shanghai copper is 423 points, continuing to be high, and the external market sentiment is stronger
.

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