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Today's Shanghai copper weak operation, the closing of the Shanghai copper main 2104 contract closed at 66460, down 1320, or 1.
Treasury yields and U.
indices rose, and non-ferrous metals collectively corrected during
The number of ADP payrolls in the United States in February was less than expected, market pessimism spread, and Shanghai copper fell below the 5-day moving average, accelerating the decline in the afternoon
It is expected that Shanghai copper will have a downward performance at night, pay attention to the 66,000 support below, and operationally recommend that cargo manufacturers ship and wait and see
In the spot market, holders are reluctant to sell, downstream consumption is weak, and the overall transaction is limited
Demand has recovered due to overseas economic recovery, domestic consumption is expected to strengthen seasonally in March, and copper prices fluctuate
in the short term.
After the holiday, under the hot global inflation trading logic, Dr.
Copper's rally can be described as overwhelming.
In the later period, the rise in U.
bond yields brought a certain correction in copper prices, and the current trend of copper prices tends to be volatile
Copper prices have reflected macro expectations and peak season demand expectations in advance, continue to rise need fundamental reality to gradually keep up, later recommended to pay attention to high copper prices, downstream feedback, at present, downstream fear of heights is obvious, downstream is facing the double pressure
of orders and funds.
In the absence of macro benefits beyond expectations, copper prices will continue to adjust
in the short term.