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October 14 copper market morning review

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

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Copper market morning comment: London copper rose sharply yesterday, and the main contract of Shanghai copper closed higher
overnight.
LME copper stocks minus 3,650 tonnes to 191,600 tonnes; Copper increased by 151 tonnes to 10,185 tonnes
in the previous period.
Copper prices are on the strong side, focusing on the pressure
at the upper edge of the range.

Copper City

On the macro front, the US epidemic has slowed economic growth, overheated inflation will cause the Federal Reserve to cancel its easing policy, and the US dollar index will still recover in tangles; Domestic economic data is weak, policy intervention is expected to strengthen marginally, and the countercyclical effect of infrastructure may appear
.
On the supply side, TC continues to recover, and refined copper production still increases
.

On the demand side, domestic inventories are at a low level, premium is high, and the price spread of refined waste is low, these factors jointly support the demand for
refined copper.
At present, power rationing measures have an impact on both upstream and downstream, and it is necessary to pay attention to the changes in inventory after the
holiday.
Overseas inventories have also continued to decline
.

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