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February 3 copper market noon review

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Copper market afternoon comment: the euro area economy contracted and will remain sluggish, overnight London copper closed down $71 under pressure, the current market demand is seasonally sluggish, downstream processing companies into vacation mode, copper fell today
.

Copper City

Central: Maintain the continuity, stability and sustainability
of macro policies.
White House: The stimulus target remains at $1.
9 trillion
.
Eurozone Q4 GDP -0.
7% qoq; -0.
9%
expected.
European economic data slightly exceeded expectations, but the US stimulus package was uncertain and the dollar rose
.
Driven by the plunge after the sharp rise in silver, most of the non-ferrous metals weakened
.

Overnight, London copper fell to close at $7,752, and U.
S.
copper opened
slightly higher today.
Shanghai copper fell sharply in daily trading, opening low near the 60-day moving average in overnight trading, and the shock closed at a small white candle, closing above the 60-day moving average at 57290
.
Shanghai copper trading positions are basically stable, pre-holiday market sentiment tends to be conservative, due to the uncertainty of the economic outlook and US stimulus policies, short-term copper prices fluctuate, follow-up attention to whether the stocking market before the Spring Festival can be started
.
Shanghai copper has an upper pressure of 58800 and a lower support of the 60-day moving average of 57000
.
Today's international copper premium compared with Shanghai copper continued to shrink to 306 yuan, and the external sentiment was obviously weak
.

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