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May 26 copper market noon review

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Copper market afternoon comment: China increased price control continued to put pressure, overnight London copper rushed back down to close down $48, large copper producers plan to expand production, recent downstream copper processing enterprises under pressure, today copper is now down
.

Copper City

The US Chamber of Commerce Consumer Confidence Index for May was released at 117.
2, 121.
7 previously, and 119.
4
expected.
Germany's IFO Business Climate Index recorded 99.
2 in May, the highest since
March 2019.
U.
S.
consumer confidence fell for the first time this year, and Fed officials said they were not worried about inflation, and the dollar continued to tumble
overnight.
Yesterday, China once again emphasized controlling commodity prices, and non-ferrous metals rose on the day and fell
overnight.

Chilean Copper enters into a collective bargaining agreement
with management.
Overnight, the copper rush fell back to the 20-day moving average under pressure to close a small negative, and opened slightly higher at $9953 today
.
Shanghai copper rose in daily trading, opened low overnight to recover yesterday's gains, and closed at 71780
under pressure on the 5-day moving average.
Shanghai copper trading positions fell slightly, and market sentiment tended to wait and see
.
Macro news has returned to neutral, short-term copper prices may continue to be volatile, and there is still support
below the medium-term.
Shanghai copper upper pressure 75000, lower support 71000
.
Today's international copper premium rose to 412, and the internal market sentiment was not good
.

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