March 10 Shanghai copper morning review

Copper prices remained green
yesterday.
China's credit data slowed
across the board.
In February, new credit fell month-on-month, and the increase in social financing plummeted by 70%.

In February, the growth rate of M2 was low, and the scissor difference between M1 and M2 soared to 10.
3%, indicating that the current market is inclined to invest in the financial market, while the real economy's ability to absorb gold is weak, and financial leverage is gone
.
Due to the high base in January and the Spring Festival holiday, the situation in February is less sustainable
.
Chile's largest copper mine strike has been on strike for 30 days, and production is expected to resume in the short term, and supply crunches will be eliminated, while pressure on copper prices will fall
.

In terms of spot, spot premiums rose, but the recovery of purchasing enthusiasm was slow, and the improvement of orders was not strong
.
From a technical point of view, the opening of the BOLL track in Shanghai copper 1704 continues to expand, the daily K-line has fallen out of the moving average track, we believe that there may be a slight recovery, to near the 60-day moving average, copper prices are still dominated by shocks, and the support can be seen at 45000
.