The market adjustment is not over Shanghai copper is still dominated by weak volatility in the short term

Externally, today's LME March copper volatility rose
.
It opened at $4850 in the morning, fluctuated from the lowest point of $4849.
5, continued to rise after a slight correction at noon, peaked at $4890 at midday, and fluctuated V-shaped at the end of the day, closing at $4882.
5 during the domestic trading session
.

On the macro front, the Federal Reserve decided at this month's interest rate meeting that the US dollar maintained the current interest rate level, the market rate hike expectations were disappointed, the dollar fell, gold soared, and domestic commodity prices were also stimulated
.
Although the US dollar failed to raise interest rates this time, the market has strengthened expectations for interest rate hikes during the year, especially in December
.
Recently, the market has paid close attention to Abe's claimed 27 trillion stimulus plan, which has helped the liquidity speculation
.

In terms of the market, the market supply has decreased today, especially the supply of good copper and flat water copper has tightened, and the supply source is mainly
imported brands.
Due to the current high price of far months, traders are more inclined to hedge, the recent spot trading profit space is not large, so traders shipments are slightly reduced, and downstream manufacturers because copper prices are at a high level, purchase willingness price is low, so the entire trading market presents a weak pattern of supply and demand
.

From the current situation, the macro environment is relatively stable, and oil prices have become the biggest constraint limiting the rise in copper prices
.
Since oil prices show no signs of stopping the decline so far, it is expected that this wave of correction in copper prices will not end
.
It is expected that short-term Shanghai copper will still be dominated by weak volatility, with an oscillation range of 37200-38200
.