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June 10 copper market morning review

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Copper market morning comment: overnight copper prices weakened, the main 2207 contract closed at 72580 yuan / ton, down 0.
32%.

U.
S.
stocks tumbled overnight, and the dollar index soared, weighing on copper prices
.

Copper City

LME copper stocks fell sharply this week, and the current domestic inventory in the previous period is only more than 40,000 tons, and low stocks support
copper prices.
In June, Shanghai has completely lifted the lockdown, and economic activity in and around Shanghai will return to normal, coupled with the country's previous stimulus policies to boost the economy, it is expected that the previously suppressed copper demand will be repaired
.

The operating rate of copper enterprises has rebounded, and with the resumption of work and production in Shanghai, the orders of cable companies continue to improve, especially the orders of large cable companies have recovered well
.
Copper prices are expected to continue to rebound
in the short term in anticipation of improved copper demand.

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