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February 11 Shanghai copper brief commentary

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

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short term incentive

copper sulfate test

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Today's Shanghai copper opened low to the downside, sharply closing yesterday's gains, closing the Shanghai copper main 2203 contract closed at 71480, down 490, or 0.
68%.

Shanghai copper

Overnight, the US CPI data for January hit a new high in nearly 40 years, the global inflation pattern brought a severe test to loose monetary policy, and the Federal Reserve's interest rate hike was about to push the US index up, interrupting the recent copper market gains
.

In terms of inventory, low inventory on the price promotion effect is reduced, overnight Lun aluminum large delivery to disperse investor speculation sentiment, Shanghai copper in the morning after a low opening successively downward, there is still domestic demand expectations, the follow-up short-term sharp pullback may be reduced, or there is a finishing situation, close to March before the Fed interest rate hike officially landed or more volatility on
copper prices.

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