May 12 copper market afternoon review

China's consumer prices rose 2.
1% year-on-year in April versus an estimate of 1.
8%.

China's ex-factory prices for industrial producers rose 8.
0% year-on-year in April, compared with an estimate of 7.
8%.

U.
S.
CPI rose 8.
3% year-on-year in April, up 8.
1% expected, down from 8.
5% last month
.
The ECB will start raising interest rates
this summer.
China's price index exceeded expectations yesterday, and in the evening, the US price index exceeded expectations, and inflation remains the dominant factor
in the market.
The dollar rose overnight to 104 near the previous high, and non-ferrous metals rushed back to close higher, mostly closing higher
.

Overnight, copper closed slightly higher, opening slightly higher at $9,308 today
.
Shanghai copper opened low overnight, rushing high and falling back to basically close flat, closing at 71600
.
Shanghai copper trading positions are declining, and market sentiment is biased towards wait-and-see
.
The short-term exchange rate seems to be gradually starting to stabilize, and copper prices may fluctuate
low.
In the medium term, supported by the gradual recovery of domestic demand, it is expected to gradually stabilize and rebound, and the internal disk may be stronger than the external market
.
Shanghai copper upper pressure 75000, lower support 70000
.
Today's international copper premium compared with Shanghai copper rose slightly to 202 points, and the internal trend was stronger than the external market
.