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Copper market afternoon comment: the global stock market rose during the National Day, London copper rose 4%, domestic and foreign copper inventories continued to decline, this year's global copper supply is still in shortage, the first day after the holiday to resume Shanghai copper supplement, is expected to rise
today's spot copper prices.
The U.
S.
Senate has agreed to extend the emergency debt ceiling until early December, which will raise the debt ceiling by $480 billion
.
U.
S.
initial jobless claims last week were 326,000 versus an estimated 348,000
.
During the National Day holiday, the external non-ferrous metals were basically flat at the close price on the 30th after a sharp fluctuation, and last night the news of the successful increase in the debt ceiling in the United States stimulated the global market, non-ferrous metals rose
across the board.
Overnight, London copper rose more than 2% to close in Zhongyang, opening slightly lower at $
9296 today.
Shanghai copper is expected to open sharply about 2% higher today with the external market to around
69,000.
Macro pressure has been released in the short term, but the long-term uncertainty is still high, and there is demand support at the spot end below, and copper prices continue to fluctuate in the medium term
.
Shanghai copper upper pressure 71900, lower support 67000
.