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    Home > Chemicals Industry > New Chemical Materials > March 31 Copper Market Afternoon Review

    March 31 Copper Market Afternoon Review

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Copper market noon comment: the US dollar index rose to a nearly five-month high, overnight London copper continued to fall to close down more than 1.
    4%, LME copper stocks increased by more than 10,000 tons, the current refined copper consumption is less than expected, today's copper is down
    .

    Copper City

    U.
    S.
    President Joe Biden hopes to approve an infrastructure plan
    expected to be between $3 trillion and $4 trillion in the summer.
    The US Chamber of Commerce Consumer Confidence Index recorded 109.
    7 in March, the highest since
    March last year.
    The chip shortage has caused a cumulative reduction of 1.
    157 million units
    in the global automotive market.
    The dollar continued to rise overnight, U.
    S.
    Treasury yields reached new highs, and non-ferrous metals fell
    under pressure.

    Copper opened slightly lower overnight, oscillating near the 5-day moving average to close slightly negative, opening lower at $
    8785 today.
    Shanghai copper night trading in the 5-day moving average under pressure to close a small negative, closed at 65600.
    Shanghai copper trading positions are relatively stable, market sentiment is neutral, there is support around 65000 below, short-term may fluctuate
    around 65000.
    The future market will pay attention to the details of the US infrastructure plan and Chinese manufacturing data
    .
    Shanghai copper upper pressure 70000, lower support 65000
    .
    Today's international copper fell to 132 points compared with Shanghai copper, and the external market sentiment was not good
    .

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