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Today's Shanghai copper weak bottom, after midday pulled up and rebound, as of the end of the day closed Shanghai copper main force 2107 closed 71770, up 280, or 0.
39%.
According to market news, the National Reserve has started to sell reserves
.
The varieties involved in this dumping are copper, aluminum and zinc
.
The object of this dumping is the downstream terminal enterprises, and there are minimum requirements for
the receiving volume of each variety.
It will be released at the end of each calendar month and will last until the end of
2021.
Affected by the high rise in the National Reserve Bank and overnight US CPI data, market worries heated up, and Shanghai copper opened
lower during the day.
However, on the other hand, the decline rate of domestic copper stocks has increased, superimposed copper prices close to the support level and below, the market bottoming mentality has increased, and Shanghai copper bottomed out after midday to hit the front pressure level
.
At present, the copper market is still in a volatile cycle, the Fed's monetary policy is undecided, the overall domestic consumption situation is still unclear, and the possibility of repeated market conditions increases
.
It is expected that Shanghai copper will maintain a range-bound market, focusing on the main force around 7.
1-72,000, and the over-range may bring more bottoming and selling possibilities
.
