1. What caused the decline of precious metals in the early stage?
One is the tightening of global currency liquidity;
Second, basic metals such as copper, aluminum and nickel are affected by demand;
Third, the risk of overseas inflation is high, and the Fed’s interest rate hike has affected the current round of non-ferrous metals decline;
Fourth, the Fed is still expected to continue raising interest rates!
2. Factors affecting copper and aluminum prices in the future!
First, on the news side, many Fed officials support a 75 basis point interest rate hike in July, and non-ferrous metals may be expected to set off another storm. According to the data on the 15th local time in the United States, the retail sales data in June was better than expected, and the Fed has more confidence to raise interest rates sharply!
The second is the technical aspect. The price of copper and aluminum fell by 45 degrees. There is no sign of turning back in the main falling wave form. The rebound of the positive line on Friday did not effectively release the trading volume. The rebound of prices or the back-and-forth on the way of falling, the rebound is short-lived.
3. When will copper and aluminum prices stop falling? What is the price trend in the future?
Copper prices may rebound slightly to around 57,000 next week, and the probability of continuing to bottom out again is high! The spot of copper and aluminum materials may need to continue to observe the dynamic trend of the market, and there is no obvious opportunity for bargain hunting!
The aluminum price may be slightly stronger than the copper price next week, rebounding slightly to the 18000 line, the price may fluctuate in the short term or continue to go down to find the bottom!
Under the current situation, global inflation is intensifying, the Federal Reserve is expected to continue raising interest rates, and the international and domestic economic situation is relatively severe. At this time, copper and aluminum spot is cautiously bottom-hunting!
