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October 29 copper market noon review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Copper market afternoon commentary: U.
S.
stocks and oil prices both rose, overnight London copper closed up $66; Copper inventories are still at a low level, domestic coal stabilized after the stop to drive the market to pick up, Shanghai copper rebounded today, and copper is expected to rise
slightly today.

Copper City

U.
S.
Q3 GDP was 2.
0% annualized in the first quarter, 2.
6% expected and 6.
7%
prior.
The ECB decided to keep current interest rates unchanged and acknowledged that inflation will remain at current levels for a long time
.
The US GDP in the third quarter was sharply lower than expected, the dollar plummeted overnight, the euro rose sharply, and non-ferrous metals rebounded
sharply.

Overnight, Lun copper rushed back to close Zhongyang, opening higher at $9663 today
.
After the daily rise of Shanghai copper, the night session opened slightly lower to close the doji, closing at 70840.
Shanghai copper trading positions are down, and market sentiment is biased towards wait-and-see
.
Copper prices fell below medium-term support and weakened short-term trends
.
At the weekend G20 summit, there may be macro positive news, and copper prices may return to a volatile market in the medium term
.
Shanghai copper upper pressure 75000, lower support 67000
.
Today's international copper premium dropped slightly to 282 points compared with Shanghai copper, returning to normal levels
.

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