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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper afternoon review on February 5

    Shanghai copper afternoon review on February 5

    • Last Update: 2022-12-08
    • Source: Internet
    • Author: User
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    The US dollar index rebounded higher, the metal market generally fell under pressure, the main force of Shanghai copper continued to fall below the 53,000 yuan first-line support in the morning, and China's Caixin manufacturing data released in the morning Bright performance slightly boosted copper prices, but as the Spring Festival approached, the overall consumer demand in the market generally turned weak, and it is difficult to support copper prices to strengthen
    again.
    Before the end of the Spring Festival, it is expected that copper prices will not have a trend upward trend, and it is expected that copper prices will remain weak and volatile today, focusing on the resistance
    above the 53,000 yuan line.

    Shanghai copper

    In terms of the market, the current local inventory is falling again, today's copper price retraced, with the pre-holiday consumption gradually weakened, downstream manufacturers are more prepared for the holiday, most of the holders are more enthusiastic about shipments, but slightly reluctant to sell, the overall supply of the market has not been tight, some downstream manufacturers pre-holiday stocking positively, a large number of pre-holiday stocks have not appeared, most of them still insist on bargain hunting, today's Guangdong electrolytic copper trading premium continues to rise, holders of shipments positively, transactions continue to improve, is expected to continue or show signs of weakness in the middle of this week, Downstream stocking needs to be advanced or pushed back to the next year
    .

    Scrap copper market, the market supply is obviously in short supply, the current holders of goods at a high price, downstream more turn to a continuous holiday state, under the dual influence of strict environmental protection investigation and scrap seven types of copper policy, supply and demand are slightly deadlocked, trading has not improved
    .

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