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    Home > Chemicals Industry > New Chemical Materials > July 20 copper market morning review

    July 20 copper market morning review

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Copper market morning comment: yesterday's Shanghai copper 2208 contract first rose and then fell, mainly volatile, and finally closed at 56030 yuan / ton; The trend of the international copper 2209 contract was also volatile, and finally closed at 49560 yuan / ton
    .
    Overnight copper continued to fluctuate, and Shanghai copper and international copper followed the consolidation
    .

    Copper City

    Recently, Fed members made it clear that they would not raise interest rates by 100 basis points, and good employment and high inflation data led the market to expect the Fed to continue to raise interest rates by 75 basis points
    this month.
    At present, concentrate supply is generally performing well, spot processing fees are slightly reduced, and demand performance is flat
    .
    In the case of basic balance between supply and demand, macro factors become the dominant factors
    affecting prices.

    Copper prices are still generally affected by concerns that interest rate hikes in Europe and the United States may lead to a recession, with the rapid decline in prices in the early stage, the market is gradually digesting the bearish impact, the short-term may continue to rebound, the medium term may be wide volatility, and long-term is still supported
    by new energy demand.
    It is recommended to pay attention to the domestic epidemic, spot demand, copper downstream starts, inventory and other conditions
    .

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