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September 17 copper market noon review

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

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Copper market afternoon commentary: the dollar rebound metal under pressure, overnight London copper closed down 2.
88%; Chile's Copper Committee lowered its copper price expectations, and the domestic Development and Reform Commission frequently spoke out that it will continue to invest reserves and ensure supply and price stability, and copper is expected to fall
today.

Copper City

The National Development and Reform Commission issued the Plan for Improving the Dual Control Degree of Energy Consumption Intensity and Total Volume
.
U.
S.
retail sales rose 0.
7% month-on-month in August, down 0.
7% expected and down 1.
1%
in the previous month.
U.
S.
initial jobless claims last week were 332,000, compared with an estimated 321,000
.
Overnight, U.
S.
retail sales data sharply exceeded expectations, the dollar soared, the euro yuan tumbled, and non-ferrous metals fell
under pressure.

Copper fell sharply overnight to close the long black candle, opening higher at $
9369 today.
Shanghai copper opened sharply lower in the night session, rushed high and fell back to close slightly negative, closing below the 20-day moving average at 69270
.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
Shanghai copper rushed high and fell below the medium-term trend line again, and the macro uncertainty of the future market is high, and it may enter a range-bound market in the medium term
.
Shanghai copper upper pressure 72000, lower support 67000
.
Today's international copper premium fell sharply to 170 points, and the external trend weakened sharply
.

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