September 23 Shanghai copper brief commentary

The decision of the Federal Reserve meeting landed overnight, the annual tightening policy was approaching again, and the rise of the US index suppressed some of the rebound space
for copper prices.
Market confidence is still expected for the consumption of gold, silver and ten, and the dissipation of market influencing factors such as Evergrande has brought some positive possibilities
.

In terms of consumption, on the first trading day after returning from the holiday, the market transaction volume picked up
as the market declined.
Although the downstream of Jiangsu, Zhejiang, Shandong and other places are affected by the dual control policy to varying degrees, downstream stocking is still expected to exist before the National Day holiday, and Shanghai copper and South China copper premium are rising
.

In terms of inventory, the LME and SHFE continued to destock.

In terms of imports, the decline in overseas copper prices during the holiday period pushed the import price ratio to improve, and trading sentiment improved, but buyers were still relatively cautious
.

At present, it is still concerned about the main shock range of 6.
85-70,000, and the night session may rise slightly, touching the bottom of the range to rebound
.
In operation, the goods are shipped temporarily, and the downstream can take the goods appropriately, mainly for use within the eleventh section
.