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February 28 copper market morning review

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

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Copper market morning comment: London copper fell slightly last week, and the main contract of Shanghai copper closed lower
.
LME copper stocks were 74,875 tonnes, up 800 tonnes from last week; Copper stocks in the previous period increased by 22,723 tons to 159023 tons; Bonded zone stocks increased by 29,000 tonnes to 227,000 tonnes
.
Macro variables are not clear, domestic accumulation, copper prices or still volatile trends, band operation is the mainstay
.

Copper City

At the macro level, the situation in Russia and Ukraine affects market sentiment; US inflation data exceeded expectations, and the dollar index recovered; 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 continued accumulation, consumption was not good, and spot goods turned to
discounts.
Overseas inventories increased slightly, and premiums rose
.
Pay attention to next week's heavy data and the direction of
Russia and Ukraine.

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