Shanghai copper may continue to be range-bound in the near future

Christmas is approaching, the increase in consumption in the European and American markets has pushed the U.
S.
stock market to improve overnight, and the U.
S.
jobless claims were flat last week, showing strong economic resilience, affected by the U.
S.
index stabilizing shock, weakening
pressure and momentum on copper prices.
The European energy crisis continues, but overnight natural gas prices fell sharply, the market's concerns about industrial production have weakened, and the copper market has recently been affected by the news, and there are signs
of falling back around 70,000 in early trading.

Following Heilongjiang's previous policy to stimulate real estate, the Jilin Provincial Development and Reform Commission encourages and guides cities and counties to carry out housing purchase subsidies and loan discounts; Towards the end of the year, the fundamentals of the copper market gradually weakened, consumption was flat, and the tight supply eased in the inventory pattern, and the power support may continue to decrease
after January.

From a fundamental point of view, the continuous rebound of copper prices has suppressed the downstream again, the sentiment of holders to sell goods for cash is high, and the Shanghai copper rise discount shows a linear downward test
.
Guangdong electrolytic copper stocks fell for four consecutive days, hitting a new low in nearly two weeks, the market reappeared in a situation where it was difficult to find a single product, and South China copper rose at a discount
.
Overall, risk appetite has recovered, and copper prices have rebounded continuously, so the current operation is temporarily treated with more ideas
.