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November 18 copper market morning review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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tryptase level high

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Copper market morning comment: London copper fell sharply yesterday, and the main contract of Shanghai copper closed lower
overnight.
LME copper stocks increased by 5,525 tonnes to 99,450 tonnes; Copper decreased by 775 tonnes to 18,384 tonnes
.
Copper prices are under pressure and weakening, focusing on the lower edge of the range support, band participation
.

Copper City

On the macro front, Taper landed as scheduled, and the Fed's inflation data recorded the largest increase in 31 years, making the market expect the Fed to raise interest rates in advance, and the dollar rose; There are signs of easing in Sino-US relations; Domestic real estate concerns eased and market sentiment improved
.

On the supply side, the recovery of TC slowed down, and the power limit disturbance was eliminated; The price spread of refined scrap is low, and the willingness of scrap copper merchants to ship has fallen
.
On the demand side, domestic inventories are at a low level, and the premium has rebounded at a low level, showing the resilience
of demand.
Overseas inventories are down, and spot premiums remain high
.

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