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February 22 Copper Market Afternoon Review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Copper market afternoon commentary: the dollar index strengthened, overnight London copper closed down 0.
8%; Tensions between Russia and Ukraine have led the market to hedge risks, and the slow pace of downstream resumption of work after the domestic holiday is still poor and downstream replenishment demand is still not good, and copper is expected to fall
today.

Copper City

Russian President Vladimir Putin announced the recognition of the Donetsk People's Republic and the Luhansk People's Republic
.
French and UK manufacturing PMIs beat expectations in February, while German manufacturing PMIs fell short of expectations
.
Russia-Ukraine tensions heated up sharply, market panic stimulated, the dollar rose overnight, and most non-ferrous metals fell
.

Overnight, Lun copper rushed back down and closed at $9,875, and U.
S.
copper opened
slightly lower today.
Shanghai copper opened sharply lower in the night, oscillating near the 20-day moving average to close the doji, closing at 71120
.
Shanghai copper trading declined, positions rose, and market sentiment was neutral
.
Domestic spot demand is general, macro fundamentals are slightly weak, and copper prices may return to range-bound markets in the medium term
.
Shanghai copper upper pressure 72500, lower support 70000
.
International copper premium slightly decreased to 443 points compared with Shanghai copper, and the external trend was slightly stronger than that of the internal disk
.

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