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January 28 copper market morning review

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

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Copper market morning comment: The main Shanghai copper futures contract fell 0.
46% to 69,780 yuan per ton on Thursday, with a discount of 15 yuan per ton
on the spot end because of very few participants.

Copper City

On the macro front, the Fed signaled a possible rate hike in March, reiterated that it would end its bond-buying program at that time, and then embarked on a massive balance sheet reduction
.
These moves mean that the Fed will shift from pandemic-era loose monetary policy to a more pressing battle against inflation
.
The Federal Open Market Committee (FOMC), which sets interest rates, said in a statement after the two-day policy meeting that "given inflation well above 2 percent and a strong labor market, the committee expects to soon be suitable for an increase in the target range for the federal funds rate
.
" "The members unanimously agreed on this monetary policy decision
.

Today's copper prices remained weak and volatile, and the overall trading center of gravity moved
slightly higher than the previous trading day.
In terms of spot, on the last trading day before the holiday, traders and downstream have been on holiday, and the price is cold without market
.
It is also reported that the northern smelter continues to ship to eastern China, and inventories in northern China fell
slightly this week.

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