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Shanghai copper afternoon review on September 15

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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The overnight Shanghai copper overnight session opened slightly higher, and the narrow range swung above the 5-day moving average to close the doji, closing at 52190
.
Shanghai copper trading declined, positions rose slightly, market sentiment was biased towards neutrality, domestic demand was off-season, and the external market was stronger than the internal market
.
Shanghai copper has recently fluctuated sharply, and the overall continuation of the range-bound market
.
The future market is vigilant against the development of Sino-US relations and the US election
.
Shanghai copper upper pressure 53520, lower support 50000
.

Shanghai copper

The U.
S.
plans to stimulate the economy next week with a new temporary grant program, as the dollar tumbled and non-ferrous metals rose
across the board due to vaccines and macro factors.
The decline in domestic PPI continues to narrow, or pointing to the fact that domestic consumption is entering the peak season, and demand is showing an improvement trend, which will further strengthen the optimism
of the market.
Eurozone industrial output in July was -7.
7% year-on-year; The forecast is -8.
1%.

China's main smelter refined copper production fell 1.
7% year-on-year to 725,500 tons in August, and copper concentrate processing fees remain at relatively low levels, which will continue to restrict normal production of smelters; however, the lack of improvement in peak season demand and the gradual recovery of upstream supply are gradually recovering, and spot copper prices are expected to rise or fall little today
.

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