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Copper market morning comment: the metal market is generally rising, in terms of external metals, metals recorded a rise across the board, London copper rose, although it fell during the session, but still recorded a close up of 1.
53%, low inventories provided support
for copper prices.
In warehouses registered with the London Metal Exchange, copper stocks stood at 80,075 tonnes on Monday, about a third of
end-August levels.
The mutated Omicron virus is several times more infectious than Delta, and many countries announced the closure of routes
from South Africa.
In the past two weeks, the US epidemic data has shown a clear upward trend
.
According to data from the US Centers for Disease Control and Prevention, as of the 25th, the average number of daily infection cases in the United States within 7 days has reached 94,000, an increase of 47%
over the same period last month.
The market fears that such a strong variant will bring the economy to a halt again, especially in labor-intensive industries and services
.
For countries with relatively poor health standards, the impact of variants may be greater
.
For copper prices, the part of the price pulled down by sentiment will recover quickly after the sentiment dissipates, and on the whole, the epidemic panic eases, the copper price rebounds at a low level, and unilaterally maintains a wide range of shocks and there is a judgment of downside risks
.
