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Today's Shanghai copper continued to be strong, hit the high level within the day after a slight fall to maintain volatility, as of the end of the day closed Shanghai copper main force 2110 closed at 71480, up 1760, or 2.
52%.
Today, Shanghai copper continued its previous strong trend, rising and hitting a high of 71,800 before falling slightly back to stabilize
.
On the macro front, global central banks will continue to maintain their current ultra-loose monetary and fiscal policies in the short term, but the recent strengthening of the Fed's taper expectations has led to a significant strengthening of the US dollar, which is not very favorable
for the overall non-ferrous metals sector, including copper.
The non-ferrous metal sector rose collectively during the day, and the confidence in the expected market peak season still existed, pushing copper prices up in the short term and entering the September price peak season stage
.
However, it is worth noting that the pressure of domestic economic growth still exists, the Fed tightening is imminent, the fundamentals of copper consumption are still unknown, and the short-term correction of Shanghai copper may stabilize overnight, paying attention to the transformation of 6.
85-70,000 and 7-73,000
ranges.
In terms of operation, a small amount of selling goods waits for the price to stabilize and take the goods, and the short-term demand for stocking is still needed, and the long-term supply still needs to wait and see
.
