Copper price volatility intensifies next week or rush back down

As inflation data continues to be high, the Federal Reserve frequently releases hawkish remarks, the market has expectations that interest rates may be raised twice in March, and the balance sheet reduction time node continues to advance, the recent financial market is generally under pressure, copper prices fell sharply at the beginning of the week and consolidated around 70,000
.

Driven by the Shanghai nickel limit on Thursday and Friday, most non-ferrous metals rebounded, and copper prices once tested the 72,000 medium-term pressure level
.
From a fundamental point of view, the re-accumulation at home and abroad is biased towards short copper prices; On the macro front, domestic interest rate cuts released liquidity and offset some of the overseas impact
.
Pay attention to the adjustment risk after the continuous rise of crude oil, and there is a linkage effect
on copper prices.

In terms of the market, spot copper this week was unchanged from last week, and good copper premium rose from 70 yuan last Friday all the way to around
440 yuan.
The year is approaching, the buying order below 70,000 shows the willingness to bargain and enter the market, while under the influence of tight supply, holders actively raise prices, and the trading atmosphere has also improved significantly compared with before the holiday
.
In terms of inventories, the stock of copper futures in the previous period was 35,102 tons this week, an increase of 4,772 tons
from last week.

Overall, the Fed released a hawkish tone, but the sharp strengthening of surrounding metals boosted the bulls' atmosphere, copper prices showed a "V" reversal this week, and London copper exceeded $10,000 intraday
.
Re-accumulation at home and abroad, the domestic year-end buying sluggish limit the upside of copper prices, it is expected that it will be difficult to have a trend next week, or show a trend of rushing back down
.