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June 7 copper market morning review

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

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Copper market morning comment: Copper prices fluctuated in the night session, and copper prices rose
after the Lasbambas mine fire accident in the early stage.
Judging from the current situation, the impact of the epidemic has gradually faded
.
Domestic infrastructure construction, the introduction of automobile rural areas and tax exemptions and other measures to support consumption have made the market full of expectations for demand recovery
.
Concentrate supply performed well
overall.

Copper City

Macroscopically, European sanctions against Russia will make crude oil stronger, coupled with strong US non-farm payrolls data, the market may open the Fed's hawkish pricing at any time, the US dollar index stabilizes, and the US bond interest rate rises; Interest rate hikes + balance sheet reduction will still suppress copper prices
.

Inventories in the LME and the previous period continued to decline
.
After the sudden rise in copper prices, copper prices may fall in the short term, and the medium and long term will still be 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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