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January 5 Shanghai copper brief commentary

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

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Today's Shanghai copper rushed back down, near the close slightly stabilized, as of the end of the day closed Shanghai copper main 2202 contract closed at 70110, up 310, or 0.
44%.

Shanghai copper

The US manufacturing PMI data was weak, the market was more worried about the industrial blow of the mutated new crown, and the US index rose to suppress non-ferrous metal prices
.
However, on the other hand, the European energy crisis continues, and the market reacts significantly to the news of supply shortage caused by the closure of metal production plants, and the rise of non-ferrous metals such as aluminum and zinc overnight drives the sentiment of the copper market
.

Near the end of the domestic year, copper consumption has gradually entered the off-season, and the market is still divided on the market trend of the following year, and the bullish sentiment is not high after large-scale stocking, and the copper market is mainly affected
by surrounding metals and news.
It is expected that Shanghai copper will maintain a high range volatility market in the near future, pay attention to the volatility around 6.
95-71,000, and may continue to lower the bottom of 70,000 support level within the day
.
Operationally, traders sell goods appropriately, and downstream tomorrow considers the demand
just before the year.

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