Non-ferrous metals are generally strong, and copper prices are expected to stop falling and stabilize

In terms of the external market, London copper opened at 6841.
5 US dollars / ton, after the opening of London copper quickly rushed up to 6856 US dollars / ton, due to insufficient upward momentum, the center of gravity gradually shifted, and then around 6825 US dollars / ton wide range oscillation, intraday low to 6812.
5 US dollars / ton, after entering the European and American session, London copper low rise, all the way to the high of 6860 US dollars / ton, then some bulls took profits, London copper high fell back, as of 17:12, London copper reported 6836.
5 US dollars / ton
。 During the day, the trend of London copper first fell and then rose, the center of gravity rose compared with yesterday, the K-line entity ran above the 5-day moving average, and it is expected to continue to test the support of the 5-day moving average and consolidate the strength
.

In the market, the Fed's interest rate hike settled, the US dollar fell back and base metals were able to recover sharply, Shanghai copper rebounded back above 51,000 yuan / ton, and the morning quotation of holders remained stable at a discount of 210~140 yuan / ton
.
The market initially showed the difference in bills, and the difference between the current month's ticket and the next month's fare was in the range of 10~20 yuan / ton
.
However, due to the market's bullish confidence has not recovered, so the receipt of goods is still cautious, especially the downstream after the previous day's volume of receipt, once again performance cooling, stop and see, traders at a low price to receive, buy cash selling period, after the second trading session, flat water copper quotation opened the gap
.
Holders are actively selling at high prices, the rebound pattern is not fully determined, trade speculation is also cautious, and the downstream maintains the rhythm
of rigid demand and bargain replenishment.
Although the market turned red, the activity of the spot market did not follow the increase, and the pace of discount and reclosing slowed down
.
In the afternoon session, the discount remained stable, the market trading activity did not improve, and the overall supply exceeded demand
.

In terms of stocks, as of March 21, COMEX copper stocks were 232,740 short tons, down 217 tons from March 20; LME copper stocks were 321,900 tonnes, down 575 tonnes from March 20; As of March 22, SSE futures inventories were 138,900 tons, down 1,453 tons
from the previous day.

Anglo American has said it may keep more in Peru's multibillion-dollar copper project
.
Japan's largest trading company, Mitsubishi Corporation, already owns an 18.
1 percent stake in the Quellaveco copper project, and last month said it was in talks with Anglo American to increase its stake to about 30 percent
.

Overall, the Fed's interest rate hike landed, in line with market expectations, macro bearish has been released to a certain extent, non-ferrous metals are overall strong, but the later trend will mainly depend on the recovery progress of downstream consumption, pay attention to the change of
inventory and premium water.
On the plate, the main 1805 contract of Shanghai copper is still running below the daily moving average, the 51,000 yuan first-line support is strong, the MACD green column entity narrows, the KDJ indicator turns upward in the oversold area, the short-term short advantage weakens, and the copper price is expected to stop falling and stabilize
.
FYI
.