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    Home > Chemicals Industry > New Chemical Materials > February 2 Shanghai copper brief commentary

    February 2 Shanghai copper brief commentary

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Today's Shanghai copper volatility is lower, closing the Shanghai copper main 2103 contract at 57300, down 600, or 1.
    04%.

    The US dollar index bottomed out and rebounded during the day, Shanghai copper accelerated its decline in the afternoon, market worries spread in the off-season, Shanghai copper has insufficient momentum, and it is expected to be weak and stable at night, paying attention to the 57,000 support
    .

    Shanghai copper

    On the macro front, Caixin China's manufacturing PMI fell to 51.
    5 in January, the lowest since July 2020, and the manufacturing industry is still in a recovery period overall, but the momentum of supply and demand recovery has weakened, and overseas demand has become a drag
    .
    Yesterday, the central bank carried out a 7-day reverse repurchase operation of 100 billion yuan in the open market, achieving a net investment of 98 billion yuan
    .
    The dollar index rebounded above 91 last night, with crude oil and U.
    S.
    stocks closing higher
    .

    In the spot market, holders have a strong willingness to raise prices, overall demand is limited, downstream consumption is weak, and transactions are poor
    .
    Chilean exports were disrupted due to rising waves, copper concentrate processing fees accelerated to decline, and global explicit inventories continued to decrease, but domestic consumption weakened at the end of the year, and short-term copper prices remained volatile
    .

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