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July 6 Shanghai copper morning review

 Last Update: 2022-12-11
 Source: Internet
 Author: User

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Overnight, the main force of Shanghai copper 1809 opened at 49550 yuan / ton overnight, the intraday rush was weak, the low was 49270 yuan / ton, and it closed at 49370 yuan / ton
.

Shanghai copper

In terms of news, China and the United States confirmed that they will impose tariffs on each other in the near future, and the overnight market continues to come under pressure
.
So far, the trade war between China and the United States has not seen signs of easing, the United States has confirmed the implementation of tariffs on the 6th, both sides have no intention of backing down, and foreign news Trump threatened to impose tariffs on China for $500 billion, and metals are under pressure
.

At present, it has entered the off-season of copper consumption, and downstream demand is sluggish
.
On the supply side, the risk of a strike remains
.
On the whole, the contradiction between Shanghai copper supply and demand is not prominent, the recent copper price trend is greatly affected by the macro, China's macro data is weak and the intensifying trade war makes Shanghai copper continue to weaken
.
However, after the price releases macro risk factors, copper prices may rebound
as pessimism is repaired.

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