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January 28 Shanghai copper brief commentary

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

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ldh reference range

stable

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Today's copper price is weak, the volatility narrowed, as of 3 p.
m.
Shanghai copper main 2203 contract was at 70290, down 220, or 0.
31%.

Shanghai copper

The hawkish comments of the Federal Reserve have suppressed market risk appetite, because interest rate hikes mean less liquidity, thereby weakening the driving force of metal demand, causing the non-ferrous sector to pullback, the last trading day before the Spring Festival market sentiment is cold, spot market transactions have been greatly reduced, there is no replenishment demand, copper prices will continue to maintain a volatile trend, and copper is expected to remain stable
.

After the Russia-Ukraine negotiations, the impact of geopolitical risks was diluted; However, affected by the expectation of tightening liquidity, the Chinese and US stock markets continued to decline, hitting market risk appetite; The domestic market will be closed next week, and London copper is expected to run weakly, with a reference to $9400-9900 in the operating range, and remain on the sidelines
.

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