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November 27 Shanghai copper afternoon review

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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The Shanghai copper 2001 contract also rose overnight, closing at 47,360 yuan / ton, up 0.
57%.

Copper prices rose sharply last night, mainly because the news of the progress of international trade negotiations and Powell's positive assessment of the state of the US economy boosted market confidence, U.
S.
stocks closed higher on Tuesday, the three major stock indexes set new intraday and closing records, and crude oil closed up nearly 1% to a new high in 2 months, and the increase in risk appetite made copper prices rise
sharply.

Shanghai copper

On the macro front, the annualized total of new home sales in the United States after the October quarterly adjustment was significantly higher than expected, and the recent economic data in the United States performed well, indicating that its economy is repairing better than expected, which is positive for copper prices
.
In addition, LME inventories fell by another 1,900 tons to 214,200 tons yesterday, and the proportion of warehouse receipts written off remained above 40%, which is expected to continue to destock, which also supports copper prices
.
At present, Shanghai copper closed in the sun, MACD indicators turned red, and copper prices are expected to remain high today
.

In terms of spot, due to the sharp rise in intraday prices in the evening, high prices inhibited market transactions, the domestic trade market is expected to be light today, and the quotations of holders are still firm due to the limited supply of transactions in their hands
.
It is expected that today's Shanghai copper 47200-47500 yuan / ton, spot premium 80-liter 130 yuan / ton
.

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