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February 11 copper market morning review

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

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Copper market morning comment: London copper rose sharply yesterday, and the main contract of Shanghai copper closed higher
overnight.
LME copper stocks minus 1,000 tonnes to 76,325 tonnes; Copper in the previous period increased by 2,025 tonnes to 26,489 tonnes
.
The macro atmosphere is positive, overseas contraction limits the upside, but low inventories are supported, copper prices may remain strong in the short term, cautious participation
.

Copper City

At the macro level, the US inflation data exceeded expectations, the expectation of interest rate hikes increased sharply, and the US dollar index rebounded; Energy prices such as crude oil rose sharply, and inflation expectations increased; Domestic wide credit is verified
by data.

On the supply side, the recovery of TC slowed down, and refined copper production increased
year-on-year.
On the demand side, the domestic market has accumulated slightly, but the premium is relatively firm
.
Overseas inventories fell sharply, and the concentration of warehouse receipts remained at a high level, and the premium rose
.
Continue to pay attention to the changes in domestic post-holiday inventory
.

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