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On Wednesday, the copper market rushed back down, and domestic copper prices were blocked by the high of the range
.
Recently, the market expressed optimism that the United States reached a new stimulus package, and the dollar fell sharply, which became the main driving force
for the copper price rebound.
However, the latest situation is that new packages may also be launched after the election, and other small stimulus packages have been rejected, and the election is again worried about whether it will be a smooth handover, and the market uncertainty has reappeared
.
On the macro front, there was new progress in the US stimulus package, the market was newly optimistic about a new stimulus package ahead of the US election, the dollar index fell for four consecutive trading days, base metals were boosted, and copper prices were the most obvious
.
However, as the US election approaches, the risk of uncertainty still exists, and the subsequent rise of copper prices depends on whether the macro environment can meet market expectations and whether the consumer side can improve
.
It is expected that copper prices may show a trend of high volatility, and the overall risk is greater
.
On the copper market, foreign spot discounts, last week's increase in inventory put pressure on spots, domestic consumption still has not seen signs of improvement, the latest news, customs officially announced brass and recycled copper code, the spot market is not conducive to rising prices
.
Technically, the LME failed to hold 7000 and today focuses on the effectiveness of the original resistance of $6877 support
.
Domestic attention is focused on the effectiveness of
resistance at range highs.
