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Today's Shanghai copper rebounded slightly to stabilize, and the main 2110 contract of Shanghai copper closed at 69810 as of the day, down 510, or 0.
73%.
Overnight, the US CPI data was less than expected, the record low inflation growth rate drove the market to worry about the Fed's tightening policy, the US index closed slightly lower after a sharp fluctuation, but the copper price rebound due to the volatility of the US index was weak, and the Shanghai copper rebound slightly stabilized during the day
.
At present, the consumption of Shanghai copper fundamentals is not clear, the domestic economy is under great pressure to increase, the frequent epidemic and the tightening of overseas currency policies are about to land, and there is still pressure
on copper prices in the second half of the year.
In the short term, the peak season consumption expectation is mainly driving prices, the possibility and amplitude of fluctuations are further expanded, and it is expected that the Shanghai copper rebound will stabilize overnight, paying attention to the sorting situation in the narrow buffer zone of 69,500-70,000, and 70,000 is the price watershed
.
The operation is mainly wait-and-see, a small amount of stock testing is more, and the pressure level reflects the obvious need to sell the position
quickly.
