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February 24 Shanghai copper brief commentary

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

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high copper

production metals

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Today's Shanghai copper main force first rose and then suppressed, affected by geopolitics once bottomed out during the day, and the price rebounded slightly after midday, narrowing some of the intraday
declines.
At the end of the day, the main 2204 contract of Shanghai copper closed at 70970, down 370, or 0.
52%.

Shanghai copper

Russia attacked Ukraine across the board, the sudden outbreak of war caused the spread of market risk aversion, aluminum and nickel and other major European production metals affected by the risk premium hit the recent high, but copper prices were affected by the US index risk aversion once slipped to the bottom, and the market sentiment rebounded
slightly after midday.

At present, the situation in Ukraine and Russia is still turbulent, if Europe and the United States continue to maintain the current sanctions, the possibility of subsequent safe-haven fermentation will be reduced, and the Shanghai copper range will be relaxed to around
6.
9-72,000.
In terms of operation, it is recommended to wait and see, and a small amount of demand is appropriately stocked
.

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