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October 26 copper market morning review

 Last Update: 2022-12-26
 Source: Internet
 Author: User

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Copper market morning comment: Yesterday's Shanghai copper 12 contract closed at 63060 yuan / ton, up 0.
49%, and closed at 62730 yuan / ton overnight, down 0.
38%.

London copper closed at $7516/mt, down 0.
53%.

Copper City

In terms of spot, Shanghai electrolytic copper spot reported a premium of 390 ~ 460, a flat water copper transaction price of 64265 yuan / ton, and a premium copper transaction price of 64290 yuan / ton
.

China's economy rebounded faster than expected in the third quarter, but pandemic restrictions, a sluggish real estate slump and weak growth in the rest of the world clouded the demand outlook
.
The renminbi fell to its lowest level against the dollar since 2008, weighing on metal prices
.
However, thanks to increased domestic infrastructure investment, copper imports in September increased by 25.
6%
year-on-year.
The data of the power and automobile sectors are better, and the downstream consumption is cautiously optimistic
as the peak season enters the end.
Global economic slowdown, medium-term bearish pattern
.
Short-term low inventories and high premiums supported the stabilization of copper prices
.

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