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Copper market afternoon commentary: oil prices rebounded higher, overnight London copper closed up $99; Copper is expected to rise today, as copper prices rise today due to increased investment in the global green energy sector, as global inventories continue to
decline and the domestic double reduction policy boosts copper prices.
The US consumer confidence index for January was 113.
8 versus 111.
2
expected.
Russia-Ukraine tensions seem to have eased, market panic has dropped significantly, European and American stock markets have generally risen overnight, and non-ferrous metals have rebounded
across the board.
The decision of the Fed's interest rate meeting will be published in the early hours of tomorrow morning, which may cause large market volatility, and no rate
hike is expected tonight.
Overnight, London copper bottomed out and turned up, closing above the 20-day moving average, and U.
S.
copper opened
slightly higher today.
Shanghai copper opened higher and rose to close in Zhongyang at 70280
in the night session.
Shanghai copper trading positions all declined, and the pre-holiday market trading was light
.
Geopolitical factors have disturbed the market, and the short-term copper price has a large amplitude, which may continue to fluctuate in the medium term
.
Shanghai copper upper pressure 72500, lower support 67500
.
Today's international copper fell to 221 points compared with Shanghai copper, and Shanghai copper trend was stronger than London copper
.
