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Copper market morning comment: Shanghai copper main Cu2103 volatility lower in the last trading day, the lowest to 57260, the highest is 57910, closed at 57300, closed down 1.
05%, night trading volatility dominant
.
Copper fluctuated lower, closing at 7752, down 0.
9%.
Biden's stimulus package is difficult to produce, the scale of stimulus is seriously differentiated, the Fed has not further committed to easing and increasing the weight, the market has certain concerns about economic recovery, and the dollar index has strengthened
.
Recently, the risk appetite of the global financial market has switched frequently, the volatility of various asset prices, especially the stock market and commodities, has intensified, and the "pro-cyclical" varieties led by copper and aluminum are limited by the weakening of supply and demand in the traditional off-season in the uncertainty of macro expectations, and short-term price shocks give up some of the previous gains
.
At the industrial end, as the Spring Festival holiday approaches, the downstream gradually enters the Spring Festival holiday mode, which further puts pressure on copper prices
.
However, the domestic economy is relatively good, electrolytic copper spot stocks continue to decline, South America also due to the epidemic copper mine supply impact, supply is still tight expectations, and the growth of the new energy industry is expected to increase copper demand, copper overall good trend unchanged, but in the short term market activity reduction makes copper prices under pressure, before the holiday or still dominated by
shocks.
