October 27 Shanghai copper brief commentary

The National Development and Reform Commission issued 15 documents in 8 days "Three Brothers of Coal" fell again, and policy regulation such as increasing coal production and stabilizing prices once again suppressed market speculation, and the news of non-ferrous metal production restrictions also weakened, and copper prices fell back to near
the previous shock range.
The tightening of the Fed's policy is approaching in November, and the follow-up attention is paid to the guidance of the US dollar; At present, low inventories support copper prices to resist declines, but the trend is still downward, and Shanghai copper is expected to test the 70,000 mark at night, and the upstream and downstream of the operation can be stocked on demand
.

From a fundamental point of view, the strike in Peru this week will interfere with the mine end, and in the current situation of continued high energy prices, it is not ruled out that the subsequent interference will intensify
the mine end.
In terms of consumption, market transactions continue to be light, and downstream stops and watches, and there is little willingness to purchase
.

Overall, the energy crisis and inflation continue, and the interest rate decisions of the three major central banks and the US inflation data have become the focus
of market attention this week.
The National Development and Reform Commission continued to deal with coal, and the sharp fall in coal prices dragged down copper prices in overnight trading, and it is temporarily maintaining its judgment
on the relative neutrality of copper prices.