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Copper market morning comment: Wednesday's Shanghai copper 2212 contract was mainly volatile, and finally closed at 63570 yuan / ton; The trend of the international copper 2301 contract also maintained consolidation, and finally closed at 56700 yuan / ton
.
Copper fluctuated sharply overnight, and Shanghai copper and international copper also maintained volatility
.
In terms of the market, the Shanghai electrolytic copper spot pair of 11 contracts for the month on Wednesday was reported at 140-170 yuan / ton, with an average price of 155 yuan / ton, down 20 yuan / ton from yesterday; The performance of the market continued to be strong, and the spot premium stabilized at about
150 yuan / ton.
On the macro front, the Fed raised interest rates sharply by another 75 basis points, in line with market expectations
.
Judging from the Fed's decision statement, the Fed's rhetoric is slightly dovish, and the Fed hints at a possible slowdown in the pace of
interest rate hikes.
However, hawkish comments from Fed Chairman Jerome Powell, while acknowledging that the December meeting may slow rate hikes, said it was too hasty to consider pausing rate hikes, weighed on market risk sentiment
.
Coupled with domestic data, economic growth pressure is still large, and consumer demand is still weak, putting pressure
on copper prices.
