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February 8 copper market morning review

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Copper market early comment: The macro of the copper market is positive, supply and demand are strengthening in stages, and copper prices climbed all the way last week, hitting the highest level
since 2013.
Initial jobless claims in the United States fell for three consecutive weeks last week, and with the US stimulus package expected to be approved, London copper closed up more than 2%, closing at 7983.
5
.

Copper City

In terms of stocks, LME copper stocks were 76,550 tons on February 5, down 2,050 tons, and copper stocks in the previous period were 30,631 tons, an increase of 8,840 tons
.

At present, it is in the off-season of consumption, but domestic and foreign inventories are in a low position, and copper prices are more obviously supported near the medium-term moving average
.
The Spring Festival is approaching, so it is advisable
to wait and see.

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