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Copper Morning Review: Yesterday's external metals market tumbled across the board, with London falling to a two-month low on Thursday after the U.
S.
Federal Reserve's (Fed/FED) interest rate hike was expected to be ahead of schedule, pushing the dollar higher and weakening demand
for the metal.
Today's LME metal market is generally red, as of about 9:30 a.
m.
, London copper, London nickel rose nearly 1%, most of the domestic non-ferrous metals fluttered green, international copper fell nearly 2.
3%, Shanghai copper fell nearly 2%.
In terms of financial attributes, the Fed's interest rate meeting decision is hawkish, the dollar index continues to climb, rising to recent highs, and non-ferrous metals are under pressure
.
At the same time, there is an official announcement of the deposit information, which has a certain impact
on the price of the market.
The Fed's monetary policy has been bearish and there is a fermentation of reserve information, and copper prices are close to the target of 67,000 predicted in the previous period, or fluctuating
nearby.
Fundamentally, the political risks of Chile and Peru, the main producing countries of copper mines, are still there, there is a certain support, and there is no bright spot in domestic demand, especially the cable consumption is difficult to show vigorous, the start of downstream enterprises in May has fallen, the seasonal off-season appears, and the fundamental support is limited
.
