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February 7 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 during the holiday period, as of January 28, LME copper stocks were 90,125 tons, down 9,650 tons from last week; Copper stocks increased by 5,257 tonnes to 40,359 tonnes
.
Macro sentiment has improved, overseas contraction limits upside, low inventory support, copper prices or shock trends; Pay attention to changes in domestic inventories and reflect whether infrastructure can be strengthened
.

Copper City

During the Spring Festival, international non-ferrous metal prices rose collectively as Fed officials eased expectations of interest rate hikes weighed on the US dollar, while high energy prices indirectly strengthened nonferrous price support
.
As of Friday's close on February 4, LME copper futures closed at $9,875 / ton, up 4% in the week of the Spring Festival, ranking first among non-ferrous metals, and recovering the pre-holiday loss to face the $10,000 mark
again.

Looking forward to the future market, the international copper price rebounded again approaching the $10,000 mark, and the international aluminum price broke through the $3,000 mark after continuing to steadily rise the trend, with the end of China's New Year holiday overseas economic and political uncertainty is in vain, domestic non-ferrous metals are expected to rebound after the holiday
.

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