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Today's Shanghai copper volatility lower, accelerated the decline in the afternoon, as of the end of the day closed the Shanghai copper main 2103 contract closed at 57550, down 450, or 0.
78%.
The market expects that the Fed may reduce the intensity of economic policy easing next year, the US dollar index will shift up during the day, the market consumption atmosphere will be sluggish, the downstream supply-side support will weaken, Shanghai copper will fall below the range, and it is expected to run weakly at night, focusing on 57,500 support at night
.
In the first half of this week, copper prices fluctuated in a narrow range, and copper prices fell sharply on Wednesday, mainly because in the context of macro policies that are difficult to exceed expectations, copper prices have a pullback to seek fundamental support demand, Thursday night copper prices in the peripheral macro recovery in the short term stabilized
.
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
.
Recently, global asset prices, especially the stock market and commodity highs have fallen, copper and aluminum led by the "pro-cyclical" varieties in the macro expectations are limited by the traditional off-season supply and demand weakening restrictions, short-term price shocks to give up part of the previous gains, it is recommended that industries and institutions focus on production profit preservation, unilateral speculators mainly operate on copper and aluminum short-term bands, and pay attention to the rebound opportunity
after the copper and aluminum pullback.
