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Trade Service
Today's Shanghai copper narrow range volatility, intraday market fluctuations are small, as of the close of the day Shanghai copper main 2204 contract closed at 71490, down 70, down 0.
1%.
On the macro front, despite investors' eagerness to mention the Fed's March rate hike in the minutes, and the fact that investors have made many more hawkish distributions of interest rate hikes throughout the year, the Fed's attitude remains very dovish, which has forced relatively aggressive investors in the market to return
home.
According to JPMorgan economists, the Fed will raise interest rates above 4% in 2022 to curb the rising price level
.
Geopolitically, the Russian embassy in the United States said that Russia was not involved in the cyberattack
against Ukraine.
The impact of the situation in Russia and Ukraine on copper prices is relatively small, and the impact on precious metals is more severe
.
The conflict between Ukraine and Russia has cooled down, the market judgment has reduced the possibility of subsequent wars, risk aversion has decreased, and the degree of market volatility has decreased
.
At present, the global copper fundamentals maintain a tight balance, low inventories and the domestic start season to support the price, but the subsequent continuous release of demand data is not shown, superimposed on the current economic downward pressure is large, copper prices have not yet had a trend market, the market is mainly wait-and-see, it is expected that the recent Shanghai copper narrow range volatility is dominant, follow-up attention to the situation around 7.
1-71,800, volatility is small
.
