Shanghai copper is mainly weak, and the market is in a wait-and-see mood

Recently, the National Development and Reform Commission and other five departments once again jointly interviewed enterprises with strong market influence in copper and other industries, aiming to suppress
the downward transmission of high copper prices.
From the perspective of price trends, bears lack macro monetary policy stimulus, bulls lack the continuous contradiction between supply and demand in the short term, and may hover
around 70,000 in the short term.
Major investors in the market are patiently awaiting the Fed's interest rate decision
in June.

On the supply side, Peru's presidential election is coming to an end, with leftist candidate Castelo leading
the way.
During his presidential campaign, he proposed taxing copper at the price of copper
.
If Castelo is elected, Peru's copper supply could be tight
.
On the demand side, the operating rate of copper pipe enterprises was only 84.
56%, an increase of only 1.
17% year-on-year, mainly because of the poor performance of terminal air conditioning enterprises
.

The global post-epidemic economic recovery is strong, the US employment data once improved, affecting market confidence to improve, whether the Fed tightens monetary policy has become an important focus this week, and the strong wait-and-see mood has led to an increase
in the volatility of Shanghai copper range.
Coupled with the impact of news such as the dumping of the National Reserve, Shanghai copper was once weak and weak, but on the other hand, global inflation continued, market speculation factors still drove copper prices to reach the range after the market accelerated, in the case of the Fed news has not yet settled, more touch the range is more likely to increase, need to pay attention to volatility
.