June 25 Shanghai copper brief commentary

In terms of fundamentals, the current TC price continues to rise, coupled with the domestic storage rumors landed, so the supply side has a more negative impact on copper prices, while on the demand side, China's current control of the new crown epidemic is still very successful, and the new energy and new infrastructure sector will continue to pull copper demand, but due to the current market Fed dumping rumors interference and the impact of the possible tightening of central bank liquidity around the world, so overall, the current relatively neutral attitude
is maintained.

The Fed's hawkish tightening of liquidity and green energy globalization copper demand has become the mainstream long-term, but in the short term, domestic copper consumption is not obvious, inflation has promoted commodity prices to become a hot spot for speculation, it is expected that Shanghai copper will maintain a high volatility market in the near future, Shanghai copper main reference to 6.
85-69,500 around the shock range, or there is speculation to promote the price rise and fall range, the operation is recommended to wait and see, just need to take goods, wait for the trend to stabilize
.