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    Home > Chemicals Industry > New Chemical Materials > March 21 Copper Market Morning Review

    March 21 Copper Market Morning Review

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Copper market morning comment: last week London copper closed slightly higher, Shanghai copper main contract closed higher
    .
    LME copper stocks were 79,500 tonnes, up 5,300 tonnes from last week; Copper stocks in the previous period decreased by 32,162 tonnes to 129506 tonnes; Stocks in the bonded zone increased by 04,000 tons to 246,000 tons
    .
    The contradiction between Russia and Ukraine affected market sentiment, demand has partially improved, copper prices have maintained strong volatility in the short term, cautious participation
    .

    Copper City

    At the macro level, geopolitical events in Russia and Ukraine show signs of easing; The high-frequency data of the domestic economy is weaker than expected, and further action by the state is still needed for easing; The Fed's rate hike boots landed, in line with expectations, and the dollar retreated
    .

    On the supply side, TC picked up, but there was interference in short-term mines; Refined copper production increased
    year-on-year.
    On the demand side, the domestic has been destocked sharply, and the premium is relatively strong, but the epidemic may affect demand
    .
    Overseas inventories rebounded
    slightly.

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