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Copper market afternoon commentary: The Fed's hawkish meeting minutes accelerated the downward trend of U.
S.
stocks, and copper fell overnight to close down 1.
05%; Inventories remain low, but downstream consumption has entered the off-season, and the willingness to receive goods is not high, and copper is expected to fall
today.
US ADP employment for December: 807,000; expected: 410,000; prior: 534,000
.
The final Markit services PMI in the United States fell to 57.
6 in December, the lowest since
September 2021.
The final value of the Eurozone services PMI recorded 53.
1 in December, the lowest since
April 2021.
Overnight Fed minutes are hawkish, the market expects that interest rates may start to raise interest rates in March and May at the earliest, non-ferrous metals mostly fall, only aluminum rises
.
Overnight, London copper opened low and went low to close in the shade, and today U.
S.
copper opened
slightly lower.
Shanghai copper opened high and closed low in the night, closing at the 70,000-point mark
.
Shanghai copper trading positions are declining, and market sentiment is biased towards
neutrality.
Recently, there are more macroeconomic data, market volatility has increased, but the spot market is cold, and copper prices remain in the range-bound market in
the medium term.
Shanghai copper upper pressure 71500, lower support 67000
.
Today's international copper fell to 478 points compared with Shanghai copper, and the external trend was slightly stronger than the internal market
.
