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Copper market morning comment: Today's LME metal market is mixed, as of about 9:30 a.
m.
, London copper fell nearly 0.
6%, most of the domestic non-ferrous metal market is green, international copper, Shanghai copper fell nearly 0.
6%.
At the macro level, China's manufacturing PMI recorded 50.
1 in August, down from 50.
4
in July.
Although the manufacturing PMI is still in the expansion range, the momentum is obviously insufficient
.
As the world's factory, the decline of China's manufacturing PMI can reflect the weakening of the world economy to a certain extent, and overseas orders may be insufficient
.
The Fed's overnight reverse repo tool usage hit a record high of $1.
19 trillion on Tuesday, indicating that money market funds remain oversupplied
.
The U.
S.
dollar index rebounded late in late trading after hitting a three-week low, and Shanghai copper was volatile
overnight.
In terms of fundamentals, the recent continuous destocking of domestic electrolytic copper stocks has given some support to prices, paying attention to today's third round of storage and the inflow of imported copper during the week
.
London copper is expected to run at $9460-9550/ton today; Shanghai copper runs at 69800 yuan / ton - 70400 yuan / ton; Spot premium 140-liter 200 yuan / ton
.
