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Brief review of Shanghai copper on March 2

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Today's main price of Shanghai copper opened high and fluctuated
in a narrow range after rushing high.
At the end of the day, the main 2204 contract of Shanghai copper closed at 71520, up 600, or 0.
85%.

Shanghai copper

Affected by the situation in Russia and Ukraine, risk aversion has intensified, energy prices have risen sharply, domestic crude oil futures have harvested a limit today, non-ferrous prices have also been affected, and copper prices have continued to strengthen
.

The domestic February PMI index shows that it is in a recovery period, the national tone maintains a stable growth mode, and there are high expectations for new infrastructure, which has strong support for copper prices, but the actual downstream transaction data is not ideal, the two contain each other and continue to pull, and copper prices are expected to maintain a high volatility pattern
.
Technically, it is recommended to continue to focus on the
70500 to 72000 range.

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