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Today's Shanghai copper narrow range volatility, the afternoon converged decline, as of the end of the day closed Shanghai copper main 2103 contract closed at 58740, down 100, or 0.
17%.
The U.
S.
index rebounded, Shanghai copper came under pressure to pullback, but the current market expectations for future stimulus policies are still in place, and the decline of Shanghai copper has slowed down
.
Stimulated by no good news, Shanghai copper short-term rebound is mainly stable, and it is expected that the night market will support the weak operation
.
On the macro front, the House of Representatives of the US Congress voted to pass the impeachment of President Trump
.
Eurozone industrial output in November was 2.
5% m/m vs 0.
2% expected vs 2.
1%
prior.
The political situation in the United States is unstable, the Federal Reserve emphasizes the risk of the epidemic, the dollar rises sharply overnight, the yuan falls, and the non-ferrous metals fluctuate
overall.
Due to epidemic concerns and changes in stimulus policies, copper prices fell sharply at the beginning of the week
.
For the later trend of copper prices, the long-term trading logic of the market is still dominated by macro, and the economic recovery is expected to be strong after the promotion and use of vaccines, and under the stimulus policy, the currency continues to be loose, and copper prices are still expected to rise
.
In the short term, due to the year-end effect, demand has gradually weakened, coupled with the increase in epidemic worries, copper prices have sought support
downward.
