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Today's continuation of the overnight pullback weakness, the decline accelerated after midday, the Shanghai copper main 2110 contract closed at 69840, down 14401, or 2.
02%, giving up most of last week's gains
.
The Chilean copper mine strike was basically settled, the new labor contract was renewed to resolve employee disputes, and the supply side eased
.
At present, the pressure of domestic economic growth still exists on the macro level, and the overseas epidemic is spreading, but the fact that central banks have basically tightened bond purchases has brought long-term pressure on copper prices in terms of
liquidity.
Fundamentally, the peak season consumption effect has not yet been reflected, and the market optimism has contracted under the condition that the confidence of the Golden Nine has not
been successful.
It is worth noting that the US CPI data is about to land in the evening, forming a partial wait-and-see situation
.
It is expected that the bottom of Shanghai copper will stabilize at night, and pay attention to the watershed situation of the main force of 70,000
.
At present, the possibility of copper market volatility increases, pay attention to intraday gains and losses
.
The operation is mainly wait-and-see, the inventory is partially processed, and the downstream stock is waiting for the downward adjustment to stabilize and enter
the market appropriately.
