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January 4 copper market morning review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Copper market morning comment: London copper rose slightly last week, the main contract of Shanghai copper closed higher, LME copper stocks were 88,950 tons, down 325 tons from last week; Copper stocks in the previous period increased by 11,011 tonnes to 38,182 tonnes; The warehouse of Shanghai Free Trade Zone was 142,000 tons, an increase of 9,000 tons
.
Macro is mixed, with weak fundamental support
.

Copper City

At the macro level, the epidemic in Europe and the United States has intensified again, which may affect market sentiment; The marginal trend of domestic monetary policy is obvious, and PMI data shows that the prosperity has rebounded
.

On the supply side, the recovery of TC slowed down, refined copper production rebounded, copper scrap tightened somewhat, and the price spread of refined scrap was flat
.
On the demand side, domestic inventories have increased, approaching the seasonal off-season, and the premium is low
.
Overseas inventories decreased slightly, and spot premiums were positive
.

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