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November 25 copper market morning review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Copper Market Morning Review: Copper prices performed strongly on Wednesday as copper prices continued to challenge 2018 highs
.
On the macro level, the US president began to transition normally, and the news that Biden will appoint Yellen as Treasury secretary has made the market optimistic that the US monetary and fiscal policies will be perfectly combined
.

Copper City

The spot market is afraid of heights, the premium continues the downward trend, the overall transaction is weak, and there are still hidden worries on the current demand side, the recovery of consumption data is less than expected, the price index is down, and the current weak consumption is still an important factor
restricting copper prices.
In general, there is strong support below copper prices, but due to the greater concern on the demand side, it is expected that the probability of high copper price shocks is high
.

In the copper market, domestic supply is tight, although scrap copper began to be imported as raw materials from October 19, but the industry is currently in the testing period, imports are limited
.
Domestic consumption picked up at the end of the year to support
the copper market.
Technically, copper will still challenge the 18-year high of $7,348 and wait for clarity
.

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