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Today's Shanghai copper weak volatility is dominant, the closing of the Shanghai copper main 2107 contract closed at 71640, down 990, or 1.
36%.
Over the weekend, the domestic suppression of commodity speculation was strengthened, and the confidence of the Shanghai copper market was partially suppressed during the day, maintaining the previous support level around
71,000.
From a macro perspective, QE will not change in the short term, so copper prices may continue to be strong near support levels
.
From the perspective of supply and demand, the slightly tight supply of copper mines has provided some support for copper prices, and the sharp correction in prices has been accepted by some downstream enterprises, and wire and cable companies may restore productivity
at the end of May and early June.
At present, the high copper price has a restraining effect on the downstream consumption of the market, but the follow-up market analysts generally predict that there are still growth points, and the long-term copper price maintains a preference outlook
.
In the near future, the fundamentals of Shanghai copper are not good, and the limited promotion of capital may still be dominated by shocks near the support level, and it is expected that the night session will maintain weak shocks, and the rebound is relatively weak, beware of bottoming out again
.
Shanghai copper mainly pays attention to the competition around 71,000 and waits and
sees.
