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A brief review of Shanghai copper on August 11

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Today's main force of Shanghai copper rose sharply
.
At the end of the day, the main 2209 contract of Shanghai copper closed at 62690, up 1340, or 2.
18%.

Shanghai copper

On the macro front, the growth rate of US CPI and core CPI slowed down and was lower than expected in July, the theory of inflation peaking was verified, and the US dollar index fell sharply below 105
.
At the same time, strong employment data has reduced the risk of a recession in the United States
.
Two major data landed, and macro sentiment has been warm
recently.

Domestically, power cuts in many places may lead to smelter production cuts, and the national reserve may begin to store copper in the second half of the year, boosting bulls' confidence
in the context of low inventories.
The current restorative market exists, but the rise is not achieved overnight, the closer to the pressure level, the fiercer the competition for long and short, and the greater
the amplitude of shock.
Shanghai copper short-line pressure level focus on 63000
.

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