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October 21 copper market morning review

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

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The copper market rose sharply on Tuesday, with foreign countries hitting new highs and domestic breaking above the recent pressure line
.
The possibility of stimulus in the United States has increased significantly, and the fall of the dollar is the main reason
.
The U.
S.
has worked closely together and Trump has expressed active support, and results may be available on Wednesday
.
In addition, the US real estate data exceeded expectations, and China's economy continued to pick up
.

Copper City

On the industrial side, Chile's Escondida copper miners will reach a new labor agreement with BHP, the risk of strike will be lifted, refined copper output will increase, and the overall supply side will remain loose; The demand side is still not improving for the time being, the second outbreak of the epidemic in Europe, epidemic prevention and control may hit demand again, and the sluggish domestic CPI also reflects the weakness of demand
.
It is expected that copper prices may show a volatile downward trend
.

In the copper market, domestic spot indicators are still supportive, and the expectation of accelerated investment in the State Grid South Network is still there
.
Technically, copper prices broke the resistance level, opening up upside, and trading was more operational
.

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