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    Home > Chemicals Industry > New Chemical Materials > July 7 Copper Market Brief Review

    July 7 Copper Market Brief Review

    • Last Update: 2022-12-19
    • Source: Internet
    • Author: User
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    Today's Shanghai copper main force opened at 49480 yuan / ton in the morning, after the opening of the short flat more into copper prices fluctuated higher, all the way up to the intraday high of 49610 yuan / ton, then short positions copper prices fell slightly, the center of gravity stabilized at 49480 yuan / ton position sideways, until the afternoon close at 49520 yuan / ton
    .

    Shanghai copper rose during the day, mainly as the market's optimistic expectations for the global economic recovery continued to rise
    .
    U.
    S.
    stocks rose en masse, while the U.
    S.
    ISM non-manufacturing PMI for June rebounded sharply to 57.
    1 last night from 45.
    4 in May, far exceeding expectations of 50 and hitting a new high since February this year, while Japan's June foreign exchange reserves turned to increase again after a decrease in May, with a declared value of $1.
    05024 trillion, an increase of $8.
    92 billion
    from the previous month.

    The continuous improvement of the macroeconomic environment has accelerated the rise of market optimism and supported the upward
    rush of copper prices.
    At present, London copper is still at a high of more than 6100 US dollars / ton, Shanghai copper followed, and closed today
    .
    The upward pattern of copper prices has not yet been destroyed
    .
    Wait for the guidance of the external market to test whether Shanghai copper can continue its rally and break through the 49,500 yuan / ton mark
    upward.

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