March 14 Copper Market Afternoon Review

Central Bank: The increase in the scale of social financing in February was 1.
19 trillion yuan, 531.
5 billion yuan
less than the same period last year.
M2 increased by 9.
2% year-on-year, 0.
6 percentage points and 0.
9 percentage points
lower than the end of last month and the same period last year, respectively.
Substantial progress has been made in the Russian-Ukrainian negotiations, and it is hoped that an agreement will be reached
soon.
China's February capital was less than expected, the domestic epidemic caused worries, market sentiment was not good, the dollar rose sharply on Friday, non-ferrous metals fluctuated at a high level, and the external market opened
sharply lower today.

On Friday, London copper rushed back down and turned lower to close at $10,101, and U.
S.
copper opened sharply lower than 1%
today.
Shanghai copper opened slightly higher in the night session, closed in a narrow range of negative range, closed at 72370, and may open below 72000 today with the outer session
.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
Domestic spot demand improved slightly, macro fundamentals were biased towards neutrality, and short-term KN continued to fluctuate
.
The market focuses on the midweek Fed interest rate meeting and China's January-February economic data, with Shanghai copper pressure above 75,000 and support below 71,000
.
International copper rose slightly to 855 points compared with Shanghai copper, and the external trend was stronger than the internal market
.