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Copper market afternoon commentary: The U.
S.
employment index in May was weak, overnight London copper shock closed down $36, Chile copper mine strike impact is limited, China's metal import demand may be weak, today's copper is limited
up and down.
The final Markit manufacturing PMI for May was 62.
1, 61.
5 prior, 61.
5
expected.
Eurozone manufacturing PMI final for May 63.
1 vs 62.
8 expected and preliminary 62.
8
.
European and American economic data continued to exceed expectations, the dollar and the euro rose overnight, the yuan continued to weaken, and non-ferrous metals fell
under pressure.
Overnight, London copper rushed back down to close in the clouds, opening slightly higher at $
10,250 today.
Shanghai copper opened slightly lower in the night, stabilizing at the 5-day moving average to close at 73870
.
Shanghai copper trading positions are rising, and the market sentiment is slightly optimistic
.
Supported by macro news, copper prices basically completed the adjustment, stabilized again, short-term shocks, continued high operation in the medium term, and the short-term decline of the RMB supported the internal market
.
Shanghai copper upper pressure 78270, lower support 71000
.
Today's international copper rise fell to 382, and the internal trend was stronger
.
