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Copper market afternoon commentary: European and American stock markets strongly drove market sentiment, overnight London copper closed up $175; Overseas copper mine supply disruption persists, and high expectations for new domestic infrastructure strongly support copper prices, and copper is expected to rise
.
In terms of news, the number of ADP employment in the United States in February: 475,000, estimated at 38.
8, the previous value was -30.
1
.
Eurozone February CPI preliminary annual rate recorded 5.
8%, continuing to hit a record high
.
Overnight, U.
S.
employment data exceeded expectations, the Fed Powell said that he was inclined to raise interest rates by 25 basis points, Russia and Ukraine talked about a ceasefire, market sentiment was high, the dollar rushed back down and turned down, and most non-ferrous metals rose
.
Overnight, London copper bottomed out and rebounded, rising nearly 2% to close in Changyang, closing at $10,255, and U.
S.
copper opened
slightly higher today.
Shanghai copper opened sharply higher in the night session, and the volatility was lower and narrowed its gains, closing at 71980
.
Shanghai copper trading positions are rising, and the market sentiment is optimistic
.
Domestic spot demand improved slightly, and macro fundamentals were neutral
.
Market sentiment is better, copper prices continue to rebound in the short term, Shanghai copper pressure above 73650, below support 70000
.
International copper rose sharply to 932 points compared with Shanghai copper, and the external trend was significantly stronger than that of the internal disk
.
