March 2 copper market morning review

Yesterday's Shanghai copper high opened high and fell back, and the bottom of the day recovered
.
Shanghai copper has been running in a volatile pattern recently, short-term long and short repeated weak shock sorting, the future is still expected to get out of the stop and restart the rally
.

On Tuesday evening, the Russian-Ukrainian war situation fell into the dilemma of spiral escalation after fruitless peace talks, and measures such as increasing military aid sanctions in Europe and the United States such as salaries to fight fires and semi-escalating the situation, and the scarcity of commodities under the impact of regional fragmentation of the global commodity industry chain was prominent, promoting financial asset prices to "significantly outperform the stock market" under the influence of the war.

As Russia as a major resource exporter or isolated from the overseas metal trade chain, the market is expected to have a large number of resources transferred to the country, the metal external strength and internal weakness situation significantly intensified, domestic copper and aluminum night trading rise is not as good as overseas, Shanghai copper futures main contract Cu2204 closed at 71670 yuan / ton, up 1.
06%.

From a technical point of view, the short-term is expected to continue to be strong, the main pressure level of Shanghai copper is 72,000, it should be noted that Russia and Ukraine have little impact on copper supply, and the sustained rebound market is doubtful
.