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    Home > Chemicals Industry > New Chemical Materials > May 7 Copper Market Afternoon Review

    May 7 Copper Market Afternoon Review

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Copper market afternoon commentary: the global economic recovery and the dollar continued to weaken, overnight London copper closed up more than 1.
    8%, green investment long-term driven demand growth, the current domestic market is in the traditional peak season, copper is rising
    today.

    Copper City

    U.
    S.
    initial jobless claims in the week of May 1 were 498,000, falling below
    500,000 for the first time since the pandemic.
    U.
    S.
    productivity climbed 5.
    4 percent in the first quarter, compared with an estimated 4.
    3 percent
    increase.
    Overnight, U.
    S.
    economic data sharply exceeded expectations, the Federal Reserve stated that it would not raise interest rates for the time being, the dollar fell sharply, and non-ferrous metals rose to a new high
    across the board.

    INE: Chile's copper production fell for the third consecutive month in March, down 2.
    2%
    year-on-year in the first quarter.
    The May Day holiday overnight London copper high rose sharply to close Changyang to a new high of $10,119, and opened slightly lower at $10,115.
    5 today
    .
    Shanghai copper opened high and rose sharply overnight, closing at a new high of 73910 in Zhongyang, closing at 73820, short-term copper prices may continue to run at a high level, and the medium term is expected to continue to rise and reach a new high
    .
    Shanghai copper upper pressure 75000, lower support 70000
    .

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