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December 21 copper market noon review

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

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Copper market afternoon commentary: the dollar index is lower, and London copper closed up $14 overnight; Rising foreign costs have led to a reduction in smelter production, but the domestic power supply has improved, and the impact of copper smelting capacity constraints has weakened, and copper is expected to remain stable today
.

Copper City

Goldman Sachs lowered its forecast for U.
S.
real GDP growth in the second quarter to 3%
from 3.
5%.
The global epidemic continued to rise, Davos was forced to reschedule in winter, and the market panic drove the US stock market tumbled overnight, and most non-ferrous metals weakened
.

International Copper Research Group: Global copper shortage of 161,000 tons
from January to September.
The dollar fell overnight, London copper bottomed out and turned red, and U.
S.
copper opened
slightly higher today.
Shanghai copper opened higher and rose to close Xiaoyang at 68940
overnight.
Shanghai copper trading declined, positions rose slightly, and market sentiment was slightly optimistic
.
The short-term rebound of copper prices has returned to around 69,000, but the market rebound in the off-season is insufficient, and the range-bound market may continue in the medium term
.
Shanghai copper upper pressure 71000, lower support 67000
.

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