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    Home > Chemicals Industry > New Chemical Materials > July 22 Shanghai copper brief commentary

    July 22 Shanghai copper brief commentary

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Today, the main force of Shanghai copper fluctuated to the upside
    .
    At the end of the day, the main 2208 contract of Shanghai copper closed at 56930, up 440, or 0.
    78%.

    Shanghai copper

    Overnight, the European Central Bank raised interest rates by 50 basis points more than expected, affected by the Russia-Ukraine conflict, the pressure of inflation overshadowed the recession, the short-term dollar was frustrated, and copper prices were boosted
    .
    Approaching the Fed's July interest rate decision, the market may have fully priced in 75 BP.

    U.
    S.
    manufacturing data and employment data are biased, and macro sentiment remains bearish
    .

    The short-term direction of copper prices may be determined
    by whether domestic demand is expected to improve.
    From a technical point of view, the current price bottom is relatively stable
    after the deep fall in copper prices.
    Short-term copper prices remain volatile, ranging from 5.
    6 to 57,200
    .
    The upstream and downstream of the operation can be stocked on demand, and the merchant can fast forward and fast out
    .

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