-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Copper market afternoon comment: the Fed still holds a hawkish attitude, overnight London copper closed down 0.
2% to hit a new nine-month low; Chilean copper mines may break out of strikes, but domestic refined copper production rebounded month-on-month, and copper is expected to fall
slightly.
Per capita savings in the United States hit their lowest level since 1929 in May, and inflation has led to a sharp rise in the cost of living
.
Germany's May PPI was 33.
6% y/y vs 33.
5% expected and 33.
50% prior, a 73-year high
.
European inflation exceeded expectations, and ECB presidents reiterated that they will raise interest rates in July and September, leaving them unchanged
.
Market concerns about the tightening of currencies by major central banks eased, non-ferrous metals opened low and higher overnight, copper and zinc fell, and aluminum lead rose
.
Overnight, London copper bottomed out and closed slightly down 0.
2%, opening slightly higher at $
8960 today.
Shanghai copper opened low and closed high at 68390
.
Shanghai copper trading is stable, positions are declining, and market sentiment is biased towards
neutrality.
Domestic demand is basically stable, and Chilean copper mines are at risk
of strike.
However, in the macro aspect, the Fed has greater pressure to raise interest rates, and short-term copper prices have over-the-top rebound demand, and may gradually stabilize and return to the volatile market in the medium term
.
Shanghai copper upper pressure 72500, lower support 68000
.
Today's international copper discount expanded to -15 points compared with Shanghai copper, and under the pressure of the Fed's interest rate hike, the external trend was significantly weaker than the internal market
.
