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Trade Service
Copper market afternoon commentary: the US dollar index weakened, the next week London copper edged up 0.
07%; Overseas copper mine supply is expected to increase, domestic smelting operating rate will rise, terminal copper enterprises are mostly just need to replenish storage, it is expected that copper will fall
slightly today.
Belarusian sources: Russian-Ukrainian peace talks will be postponed until the morning of the
28th.
The US core PCE price index came in at an annual rate of 5.
2% in January, in line with expectations, and the previous reading was 4.
9%, a new high in nearly 39 years
.
Over the weekend, the Russian-Ukrainian conflict and the US-European international sanctions against Russia continued to come out, which had a great impact
on the market.
The dollar and yuan rose sharply on Friday, the euro tumbled, and most non-ferrous metals fell
.
On Friday, London copper opened high and closed lower at $9860, and U.
S.
copper opened
slightly lower today.
After a sharp fall on Friday, Shanghai copper opened low and closed high at 70860
in the night.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
Domestic spot demand is general, macro fundamentals are slightly weak, and the Russia-Ukraine conflict has little impact on copper prices
.
Copper prices may continue to be range-bound in the medium term
.
Shanghai copper upper pressure 72500, lower support 70000
.
International copper fell to 148 points compared with Shanghai copper rise, returning to normal levels
.
