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Today's Shanghai copper high volatility, touched the upper pressure level of 72,000 in the day and fell, the closing of the Shanghai copper main 2109 contract closed at 71610, down 490, or 0.
68%.
There has been no change in the Fed's interest rate decision on inflation, nor has much changed in the rhetoric on the job market, and Powell has still expressed strong confidence
in the job market.
At present, the recovery of the US job market is not stable, there is still some time before full employment, monetary policy will not be adjusted for the time being, and overseas liquidity is still loose
.
The supply of raw materials has gradually recovered, but it is still necessary to pay attention to the disruption of events such as strikes, TC has continued to recover since mid-April, and copper mine supply tends to be loose
in the short term.
The performance of downstream consumption in the off-season is more obvious, except for copper plate, strip and foil plate operating rate is higher than in previous years, copper rod, copper pipe and other fields performance is relatively poor
.
Overall, the current macro copper market is profitable, and copper prices are expected to continue to rise
.
At present, the Shanghai copper pressure level has switched to around 72,000, and it is expected that the recent trend is mainly range-bound, waiting for the price to stabilize, the night trading may rise, hit the pressure level again, and there are more signs
of moderate preference in August with the increase in demand.
