April 23 Copper Market Afternoon Review

Initial jobless claims in the United States fell by 39,000 last week to 547,000, unexpectedly falling to a pandemic-era low
.
Eurozone preliminary consumer confidence for April was released at -8.
1, -10.
8 prior, -10.
8
expected.
Passenger car retail sales in April are expected to be approximately 1.
63 million units, up 13.
9%.

The European Central Bank left interest rates unchanged, Biden plans to raise taxes sharply, panic pushed the dollar higher, and non-ferrous metal highs retreated
.

Chile's Escondida copper miners will begin negotiations for a new contract in June, which could pose a threat
to copper supplies.
Overnight, the copper high fell back to close in the small negative, opening flat at $
9395 today.
Shanghai copper rose on the day, opened high and low in overnight trading, and closed below the 5-day moving average at 69080
.
Shanghai copper trading positions are declining, market sentiment is biased towards neutrality, short-term may fluctuate at a high level, and is expected to continue to rise in the medium term
.
Shanghai copper upper pressure 70740, lower support 67000
.
Today's international copper premium from Shanghai copper rose slightly to 472 points, and the external sentiment continued to improve
.