Shanghai copper high opening oscillation operation short-term will have a pullback demand

In the macro aspect, vaccines continue to advance, and the effectiveness of vaccines is high; Overnight, the Fed Big Three continued to calm market anxiety about inflation, with Powell believing it could take three years to reach its inflation target, stressing that U.
S.
debt financing remains strong
.
Market optimism about the prospects of economic repair is growing, and copper prices have received strong support
from the macro level.

On the supply side, the supply and demand between mining and smelting is still in a tight pattern, and TC is still declining, but the supply disturbance factors have eased
.
On the demand side, after the holiday, enterprises have sufficient employees, industrial enterprises will recover more quickly, and export demand is also strong
.
However, it is also necessary to pay attention to the rapidly rising copper price that makes the downstream afraid to stop, the price difference between refined waste expands, and the replacement advantage of copper scrap is obvious
.

Overnight, the Fed continued to release dovish signals, the dollar index retreated, falling below the 90 mark within the day, affected by the expectation of global economic recovery, market confidence boosted, London copper, Shanghai copper both reached new highs
within the day.
At present, the global copper inventory remains low and the traditional consumption season is coming, Shanghai copper will maintain a strong operation in the medium and long term, the medium-term pressure level is 75,000, and there will be short-term pullback demand
.
It is expected that Shanghai copper will remain high at night, mainly sorting, and it is recommended that cargo companies hold more wait-and-see as the mainstay, and properly ship under profits to maintain capital circulation, and downstream just need to stock
.