July 27 Copper Market Brief Review

The Fed's interest rate decision is about to land on Thursday, with the severe spread of the global new crown epidemic, the market generally expects the continuation of loose monetary policy, and the US dollar index has fallen from recent highs, releasing pressure on copper prices and pushing Shanghai copper to rise again within the day to hit the 72,000 mark
.
However, with the domestic stock market losing again, Shanghai copper showed a surge and fell after noon, and the current market confidence is turbulent, beware of a sharp drop in Shanghai copper at night to return to around 71,000
.
The operation is mainly shipped by the shipper, and the downstream stock is temporarily waiting
.

A few days ago, after the second batch of copper, aluminum and zinc thrown by the State Reserve Bank increased, the market verified that the subsequent reserve dumping quantity will be adjusted according to the direction of market dynamics, but the favorable outbreak of hot concepts such as new energy and new infrastructure carbon neutrality dilutes the impact of short-term storage short-term landing, while the vulnerability of the global supply chain promotes industrial replenishment, without macro system risks, copper and aluminum led by non-ferrous metal prices have strong structural support under inflation expectations, and China's official attitude towards regulatory measures is resolute.
More is just to ease the price increase rate of non-ferrous metals such as copper and aluminum, focusing on whether short-term copper prices can stand firm at 70,000 yuan / ton mark, short-term copper and aluminum challenge the momentum of the upper resistance is insufficient, or wait for the flashpoint
of the medium and long-term trend to break up.