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February 26 Shanghai copper brief commentary

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

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Copper prices fell back on Friday, and as of 3 p.
m.
, the main 2204 contract of Shanghai copper was at 70690, down 180, or 0.
25%.

Shanghai copper

Afternoon news showed that Russian armed forces are rapidly advancing towards Kiev, the capital of Ukraine, and risk aversion pushed copper prices down in the afternoon
.
Statistics show that Russia and Ukraine involve limited production of copper supply, so the surrounding metals have risen sharply recently, but copper prices are not volatile
.

At present, the sanctions of various countries have further escalated in macro aspects, suppressing market risk appetite, and after the short-term weak operation of copper prices, the space for continued decline is limited, and the main support level of Shanghai copper is 7-70,500, and the upstream and downstream of the operation are mainly
stocked at the dip.

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