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Copper market afternoon commentary: crude oil prices rose, the next week London copper low rebounded to close up 1.
27%; China's copper supply is still tight and the overall inventory is low, favorable policies continue to make efforts, downstream consumption has improved, and copper is expected to rise
.
On the macro front, the US CPI in August exceeded expectations, and the US CPI in August rose 8.
3% year-on-year, higher than the market expectation of 8.
1%; It rose 0.
1% month-on-month, and the market expected a decline of 0.
1%.
Core CPI, which excludes food and energy, rose 6.
3% year-on-year and 0.
6% month-on-month, both above market expectations, and the discussion on next week's Fed rate hike was upgraded from "50 or 75 basis points" to "75 or 100 basis points"
.
For this reason, investors are concerned that further sharp rate hikes could dampen economic growth and dampen metal demand
.
Copper prices will continue to face pressure from global inflation and Fed tightening in the coming months, but the tight spot and the arrival of the gold and silver peak season, inventories remain low, which supports copper prices
.
Copper prices are expected to remain broadly volatile
.
