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Trade Service
Copper market morning comment: Shanghai copper main force rose 1.
45% to 68560
yesterday.
Today's LME metal market is mostly green, as of about 9:30 am, London copper fell nearly 0.
2%, domestically, the non-ferrous metal market is mostly red, international copper rose nearly 1%, Shanghai copper rose nearly 0.
9%.
Copper prices have risen frequently in recent days, market risk appetite has picked up slightly, and investors' concerns about the Fed's hawkish comments have eased
.
With the annual meeting of global central banks approaching (August 26-28), it will be necessary to pay attention to whether the Fed will clarify the timing of the tapering and the
US economy.
The upward trend in copper smelting fees has slowed down, mainly due to the increase in short-term disturbances at the mine end and the impact of port congestion on container traffic
.
The total inventory volume of the three major exchanges continued to decline, the pattern of high spot premium and low inventory was difficult to change, and the fundamentals gradually improved
.
Overall, the current supply and demand side supports copper prices, but the short-term disturbance of macro sentiment on copper will continue, and cautious optimism
is needed ahead of the Fed meeting.
