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October 16 Copper Market Morning Review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Copper prices moved higher
again on Thursday when the copper market met support.
U.
S.
jobless claims are rising, new stimulus packages are hopeless, the pandemic is intensifying, the dollar is higher, but commodities are also higher, and the market rhythm is somewhat chaotic
.

Copper City

Chilean copper mine negotiations remain unagreeable
.
Overnight, London copper opened low and rose to close in Zhongyang, opening slightly higher at $
6785.
5 today.
Shanghai copper opened low and stepped back at 51,000 before rebounding to close at 51680
.
Shanghai copper trading is stable and positions are rising, the market is slightly optimistic, and the short-term may continue to fluctuate
above 51000.
Due to the increased uncertainty of the US presidential election, Shanghai copper is more likely to continue the volatility in October
.
Shanghai copper upper pressure 53520, lower support 50000
.

In the copper market, the import window opened on Thursday, and domestic spot rose to strong, but domestic consumption did not improve, and there were many contradictions
.
The short-term market is strong, and the LME has the potential
to challenge the highs.
Wait and see for a moment, wait for clarity
.

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