July 1 copper market morning review

Yesterday's external metals market was green and thin, and London copper rose on Wednesday, but the monthly line posted its biggest monthly decline since March last year, as a stronger dollar, threats of tighter U.
S.
monetary policy and China's move to cool commodity prices pulled copper prices back
from record highs.
Today's LME metal market is mostly red, as of about 9:30 a.
m.
, London copper rose nearly 0.
3%, domestic non-ferrous metals were mixed, international copper rose nearly 0.
9%, Shanghai copper rose nearly 0.
8%.

In terms of spot, on the last day of the end of the month, buyers squatted and waited for the opportunity to enter, sellers chose to sell at a high price due to their limited inventory supply, the monthly difference structure has shown signs of reopening, today into July, the market trading will gradually pick up, and the premium is also expected to gradually rise
.

US small non-farm payrolls in June were better than expected, considering the opposite impact of last month's large and small non-farm payrolls data, macro focus on the weekend big non-farm payrolls release
.
China's manufacturing PMI fell slightly in June, foreign orders for manufacturing fell back, and overseas demand for non-ferrous metals decreased
.
Overall, the recent changes in supply and demand in the copper market are limited, and they are still dominated by macro guidance, supplemented
by supply and demand.
At present, the market inflation trading heat or weakened, the disturbance of the South American epidemic and other events on the mine end gradually recovered, some smelting and maintenance enterprises resumed production, the supply side was loose, the downstream consumption off-season is coming, and the consumption side may perform poorly
in the short term.
There are still many fundamental bearish factors, maintaining a bearish judgment
.