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    Home > Chemicals Industry > New Chemical Materials > July 25 copper market morning review

    July 25 copper market morning review

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Copper market morning comment: London copper rose sharply last week, and the main contract of Shanghai copper closed higher
    .
    Pessimism
    eased.
    On the macro front, the dollar retreated
    as the probability of a 100BP rate hike at the July interest rate meeting decreased and the eurozone rate hike increased.
    The Michigan Consumer Confidence Survey showed that long-term inflation expectations fell significantly this month, expectations of forward interest rate hikes fell, and prices reacted to inflation data somewhat bluntly; The domestic epidemic situation is still increasing, domestic real estate risk events have also fermented, and macro bearishness has been realized in the short term, and further suppression may be limited; Domestic policy remains dominated by stability
    .

    Copper City

    On the supply side, there are more disturbances at the mine end, and the processing fee is reduced, but there is an increase in domestic smelting, and there are not many
    sources of import customs declaration.
    On the demand side, there was a slight improvement month-on-month, with downstream replenishment actions, inventory declined, and premium water rebounded
    .
    However, the terminal did not see a significant improvement
    .
    Continue to pay attention to the cable end of the infrastructure in July and whether the real estate chain can improve
    .

    Short-term pessimistic expectations release, demand for good expectations, copper prices stabilized, and the recovery also needs to pay attention to spot performance
    .

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