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December 23 copper market morning review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Copper market morning comment: London copper rose slightly yesterday, the main contract of Shanghai copper closed higher overnight, LME copper stocks fell 525 tons to 89400 tons, and the previous copper fell 1149 tons to 9181 tons
.
The macro margin is improving, the fundamentals are supported, and the lower edge of the range is supported effectively
.

Copper City

At the macro level, US inflation has soared, the Federal Reserve has accelerated debt reduction, and the US dollar will remain strong; Domestic liquidity has shown signs of easing, infrastructure construction is ahead, and cross-cycle adjustment is
strengthened.

On the supply side, the recovery of TC slowed down, the disturbance of power rationing was eliminated, the production of refined copper rebounded, the domestic scrap copper supply was affected under the epidemic, and the price spread of refined waste fell
.
On the demand side, domestic inventories are at a low level, and the premium is rising at a low level, indicating that demand is acceptable after the price correction
.
Overseas inventories increased, and spot premiums were positive
.

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