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Copper market morning comment: overnight London copper rushed back down, still running around $6150, up 0.
05%.
Overnight, the peripheral metal market rushed back down, the Shanghai copper 1902 contract opened slightly lower, the futures price briefly rebounded around 49440 and then fell under pressure, the morning market continued to be volatile, and the futures price rebounded 49350 line can be
short-traded.
Market demand has weakened, copper prices have limited rebound, and it is expected that the short-term will still be dominated by shock consolidation
.
Macro environment, the ECB kept interest rates unchanged, confirmed its withdrawal from QE at the end of December, and for the first time clarified that reinvestment will continue until after the first interest rate hike, did not discuss the timing of reinvestment and interest rate hikes, and lowered European economic growth and inflation expectations; The media said some policymakers wanted to strengthen downside risks
to the economy.
There is news that China is fulfilling its commitments to the United States, the easing of Sino-US trade disputes has boosted most non-ferrous metals to turn red, copper prices are expected to stabilize, and Shanghai copper's main force around 49,000 is still buying on the dip
.
