February 16 Shanghai copper brief commentary

On the macro front, energy prices have rebounded sharply recently, and the spot price of WTI crude oil has returned to a high of
$90/barrel.
This means that the commodity pull on inflation will remain in the near term
.
Qualcomm has repeatedly challenged the Fed's bottom line, but the March rate hike expectation has been fully priced in by the market, and if the Fed does not exceed expectations of "hawkish" copper prices are expected to continue to remain volatile
.
From a fundamental point of view, the supply of copper concentrate on the supply side gradually recovered, copper concentrate TC continued to recover, and copper concentrate production remained high in January
.
There is no significant change
in supply and demand.

At present, the demand for starting construction after the Lantern Festival has risen, but there is still no more data to promote market investor confidence to re-enter, it is expected that Shanghai copper will be difficult to get out of more trends during the week, it is recommended to pay attention to the changes in the situation in Ukraine and Russia, the main space of Shanghai copper is 7.
15-71,000, and pay attention to the price trend change
after the night session touches the pressure level.
The operator can ship the goods
appropriately.