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Copper market morning comment: Shanghai copper main Cu2105 shock late down in the last trading day, the lowest to 65860, the highest at 66620, closed at 65880, closed down 0.
69%, and the night trading was narrow.
London copper fluctuated lower, closing at 8750.
5, closing down 1.
45%.
Most of the outer metals were green yesterday, with London copper falling nearly 1.
3 percent, and London copper falling on Tuesday as a stronger dollar and rising inventories triggered a sell-off, while the market outlook manufacturing survey data
to be released by China, the largest consumer.
Analysts note that there is no real fundamental news, the dollar is rising, inventories are rising, and funds are selling
.
The release of the Manufacturing Purchasing Managers' Index (PMI) this week should give us clues
to future demand.
On the macro front, US President Joe Biden will announce the infrastructure plan on Wednesday, the market is optimistic about the US economic outlook, boosted by the infrastructure plan, US Treasury yields hit a new high 10 years ago, and the US dollar index rose above the 93 mark intraday, the highest level
in nearly five months.
U.
S.
Treasury yields rose sharply, and the continued rise of the U.
S.
index increased upward pressure on copper prices, and fell under pressure overnight
.
