April 7 copper market noon review

China's Caixin services PMI 42 for March vs 49.
7 expected vs 50.
2
prior.
Standing Meeting: Deploy timely use of monetary policy tools to more effectively support the development of the real economy
.
Eurozone PPI recorded 1.
1% m/m in February, the smallest increase since August 2021
.
German February seasonally adjusted factory orders -2.
2% m/m, -0.
3% expected vs.
1.
8%
prior.
China's services sector data and European economic data fell short of expectations, and the spread of the epidemic in Shanghai continued to hit market sentiment
.
The minutes of the Fed meeting showed that many officials were inclined to raise interest rates by 50 basis points, the dollar rose to a new high overnight, and non-ferrous metals fell across the board
.

Overnight, London copper opened low and fell to close the shade, opening slightly lower at $
10,292 today.
Shanghai copper overnight trading rushed back to close slightly negative, closing at 73550
.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
The trend of London copper is better, and the spot season has arrived
.
Domestic spot demand has improved slightly, macro fundamentals are biased towards neutrality, short-term shocks, and medium-term trends are optimistic
.
Shanghai copper upper pressure 76500, lower support 72000
.
International copper fell to 1144 points compared with Shanghai copper, and the trend of the external market was still stronger than the internal market
.