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Yesterday, Shanghai copper around 71550 yuan / ton narrow range of shock sorting, the afternoon opening trend is stable, until the end of the day rose slightly above the daily moving average, and finally closed at 71520 yuan / ton
.
Up 600 yuan / ton, an increase of 0.
85%.
On the macro front, the recent sharp rise in natural gas prices in Europe has made the situation of limited production capacity in Europe likely to persist, which will undoubtedly keep the already high inflation level at a high level
.
In addition, the transcript of the hearing of Fed Chairman Jerome Powell was released in advance, and the testimony said that a 25 basis point rate hike in March is expected to be appropriate
.
Considering the current Russia-Ukraine tensions, Fed governors may act more cautiously
.
From a fundamental point of view, the change is relatively limited, the downstream resumption of production continues to be slow, coupled with the continuous fermentation of the epidemic in Suzhou, Nantong and other places, consumption is currently dragged down to a certain extent, and consumption is less than expected, and the Shanghai copper premium has continued to decline
.
It shows that the holders try to actively ship, and the copper premium in South China shows a continuous downward trend
.
In terms of stocks, the LME edged out of 0080000 tonnes to 72,100 tonnes, and SHFE edged up 01,100 tonnes to 73,200 tonnes
.
On the import side, the import window continued to close, and market trading continued to remain low
.
Overall, the market risk aversion has further heated up, and poor consumption has dragged down the performance of copper prices, but inflation factors may have a more obvious boost
to copper prices.
