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    Home > Chemicals Industry > New Chemical Materials > May 24 Copper Market Afternoon Review

    May 24 Copper Market Afternoon Review

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
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    Copper market afternoon commentary: Concerns about the US inflation outlook persist, London copper continued to weaken the next week to close down more than 1%, policy level to ensure supply and price stability continued to put pressure, the recent downstream consumption growth is slow, copper today fell
    sharply.

    Copper City

    President of China Nonferrous Metals Industry Association: The price increase of bulk commodities seriously deviates from the industrial operating price chain
    .
    The US Markit manufacturing PMI for May was 61.
    5 preliminary vs 60.
    5 prior, 60.
    2
    expected.
    Eurozone preliminary manufacturing PMI for May was 62.
    8 vs 62.
    9 prior, 62.
    5
    expected.
    Germany's PPI surged further in April, rising at the fastest pace since surveys began in 1996
    .
    On Friday, economic data from Europe and the United States exceeded expectations, inflation fears rose again, the dollar rose sharply, and non-ferrous metals mostly fell
    .

    On Friday, London copper opened low and fell to close at a new recent low of $9,901, and opened slightly higher at $
    9,902.
    5 today.
    Shanghai copper opened high and low in the night trading at the 20-day moving average, under pressure to close in the shade, closing at 71750
    .
    Shanghai copper trading stable position rising, market sentiment is optimistic, copper prices fell after the market buying strengthened, short-term continuation of the adjustment of the market, the future market is expected to gradually stabilize
    above 70,000 points.
    The current main contract has been moved to the 2107 contract
    .
    Shanghai copper upper pressure 75000, lower support 70500
    .
    Today's international copper fell to 382 yuan compared with Shanghai copper, and the external market sentiment was not good
    .

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