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November 16 copper market noon review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Copper market afternoon commentary: the dollar updated a 16-month high, overnight London copper closed down $79; The operating rate rebounded slightly after the power curtailment weakened, but the overall demand trend was weakened due to poor real estate production and sales, and copper is expected to rise and fall to a limited
extent.

Copper City

China's October economic data was mixed, with production data falling short of expectations and consumption data beating expectations
.
US President Joe Biden officially signed the infrastructure bill
.
Eurozone September Adjusted Trade Balance: €6.
1 billion, Expected: €11.
5 billion, prior: €11.
1 billion
.
Yesterday's European economic data fell short of expectations, officials spoke dovish, the euro tumbled, the dollar rose sharply to a 16-month high, and non-ferrous metals fell
across the board.
This morning's Sino-US summit meeting may cause market volatility
.

Overnight, London copper opened high and low, fell sharply to close in the bardo, and U.
S.
copper opened
slightly higher today.
Shanghai copper opened high and low to close at 70880.
Shanghai copper trading positions are down, and market sentiment is biased towards wait-and-see
.
Global macro fundamentals have improved slightly, copper prices stabilized around 70,000 points in the short term, and returned to range-bound markets in the medium term
.
Shanghai copper upper pressure 75000, lower support 67000
.
Today's international copper premium rose to 351 points compared with Shanghai copper, and the external trend was stronger
.

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