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    Home > Chemicals Industry > New Chemical Materials > September 5 Copper Market Afternoon Review

    September 5 Copper Market Afternoon Review

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Copper market afternoon comment: oil prices are higher, and London copper rose slightly by 0.
    03% the next week; Domestic copper smelting enterprises resumed production and resumption of supply, downstream demand is still weak, but low inventories give copper prices some support, and copper is expected to remain stable
    .

    Copper City

    U.
    S.
    non-farm payrolls rose by 315,000 in August, 30 expected, 52.
    8 in the previous month, the smallest increase since April 2021, and the U.
    S.
    unemployment rate rose for the first time in five months at 3.
    7% in August versus 3.
    5
    % in the previous month.
    Eurozone July PPI rose 37.
    9% year-on-year versus 35.
    8%
    expected.
    On Friday, the US non-farm payrolls slightly exceeded expectations, the European PPI data exceeded expectations, the global central bank interest rate hike expectations rose, the dollar rose to a new high, and the non-ferrous metals trend was weak
    .

    London copper opened slightly higher on Friday, rushed back down to close in a small negative, and opened slightly lower at $
    7534 today.
    Shanghai copper opened slightly higher in the night session, rushed back to close Xiaoyang, closing at 59900
    .
    Shanghai copper trading rose and positions fell, and market sentiment was cautious
    .
    The supply and demand situation is neutral, the Fed's interest rate hike expectations are rising, and copper prices are under pressure
    in the short term.
    In the near future, pay attention to the support around 60,000 points, and it is expected that copper prices may fluctuate
    in the range of 60,000 points in the medium term.
    The upper pressure of Shanghai copper is 62000, and the lower support is 58000
    .
    Today's international copper rose to 296 points compared with Shanghai copper, the Fed's interest rate hike expectations rose, and the external trend was weak
    .

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