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January 12 Shanghai copper brief commentary

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

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Shanghai copper rose sharply today, closing at 71170, up 1600, or 2.
3%.

Shanghai copper rose sharply above the 71,000 mark during the day, and rose fiercely
after midday due to the influence of the surrounding market.

Shanghai copper

The European energy crisis continues, the LME power outage coupled with low metal inventories stimulates market confidence, and metals such as nickel and tin rise sharply drive other non-ferrous metals
.
Powell's speech dragged down the US index on the other side to release copper price pressure, near the end of the year, although there is a stocking start, but the epidemic is current, the downstream industry early rest situation increases, the effect on consumption is limited, copper prices are mainly affected by the surrounding metals and US index and other news
.

Shanghai copper continued to rise during the day, maintaining a strong trend in the afternoon, closing at a strong white line
.
Shanghai copper short-term has been running in a wide range of shock 68400-72200, short-term bottoming down support after a strong rebound, technically expected to continue to be strong to continue to strengthen, the market is expected to turn the shock into strong
.

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