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July 7 Shanghai copper afternoon review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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The copper market was volatile last week, but fell back over the weekend
.
Copper prices continued to rise last night, starting to rise from early trading, the outer market recovered last Friday's black line part to hit a new high after the Spring Festival, Shanghai copper opened high at 49300 after the same firm, copper price rally momentum continued
.

Shanghai copper

On the macro front, the number of new epidemics in the United States has reached a record high, and states accounting for 60% of the US population have suspended or canceled economic resumption, which has put pressure
on the market.
The copper market also began to show weakness, with China's inventories increasing by more than 14,000 tonnes, spot premiums shrinking to double digits and import windows closing
.
Chile actively responded to the epidemic and postponed projects under construction to ensure projects
in production.
Technically, the copper market has a lot of resistance at $6,200, and if it breaks $6,000, the likelihood of the copper market entering a pullback phase will increase
.

On the spot side, the improvement in market receiving sentiment has given traders false confidence and is expected to maintain a slight increase today
.
It is expected that today's London copper 6150-6210 US dollars / ton, internal disk 49300-49800 yuan / ton
.
It is expected that today's spot premium 20-liter 40 yuan / ton
.

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