Brief review of Shanghai copper on August 17

Overseas, the European economic boom continued to decline, and the US liquidity tightening expectation remained unchanged
.
Domestic July financial data performed poorly, and reducing MLF was only to stabilize the economy, and the actual boost effect was limited
.
The macro is under pressure as a whole
.

At present, there are many fundamental disturbances, affected by high temperatures, and power cuts in many places in China, but the impact is more reflected on the supply side, low inventories and high spot premiums limit the space
for copper prices to fall.
The European energy crisis has heightened concerns about the supply of non-ferrous metals, and copper has also been boosted and volatile
.
Therefore, maintaining a volatile view, Shanghai copper focuses on the 61000-63000 range
.
Operationally, it is recommended that the merchant take advantage of the high shipment
.