The dollar index retreated, and Shanghai copper futures prices strengthened slightly

On the macro front, the hawkish hawkish Fed interest rate meeting briefly boosted the dollar index, but risk sentiment improved overnight, the dollar index retreated, and the suppression of metals weakened, and it was on the strong side
in the morning.
For economic data performance, SDIC Anxin Futures said that the US economy slowed down in September, and Markit manufacturing, service industry and composite PMI were sluggish
across the board.
The Eurozone economy showed signs of slowing down due to supply chain disruptions, with the composite PMI hitting a five-month low
.

In terms of the market, the spot quotation of Yangtze River nonferrous copper was 69230-69270 yuan, and the average price was 140 yuan
higher than the previous day.
The circulating source of goods in the spot market tightened, and the holders took advantage of the trend to raise prices, and the intraday premium rose sharply; The highest heard of the rise of good flat water is more than 470 yuan but has not heard of the actual transaction, and the highest heard of the rise of 500 yuan or more in the second period of good copper is reported
.
It is reported that the mainstream transaction of flat water copper is at the level of 350-420 yuan liters, and wet copper is rare
.

In terms of inventory, LME copper inventories have continued to decline since this week, and the current inventory level has fallen to a two-month low, registered warehouse receipts have fallen simultaneously, and the proportion of cancellations has rebounded
.
Inventory of copper warehouse receipts in Shanghai has recently accelerated its decline, falling by more than 1,800 tonnes to below
15,000 tonnes.
However, from the results of current observation and research, the impact of power rationing on copper consumption is greater than that of the supply side, and under the current power rationing situation, the overall impact is not large, and it coincides with the replenishment after the holiday, the pre-holiday stocking node, Guangdong, Shanghai area accumulation is not obvious
.
We should be vigilant against the impact of power cuts on the industrial chain
.

On the news front, Peru's finance minister said on Thursday that the International Monetary Fund (IMF) will recommend that Peru implement tax reform on the mining sector, which will generate more revenue when metal prices are high without affecting competitiveness
.
Recently, the strike disturbance of mining enterprises in South America has weakened significantly, but according to Mysteel's survey feedback, due to the logistics congestion of the Alashan Port in Kazakhstan, in order to ensure the smooth evacuation of the port, the Alashan Port has suspended the receipt of goods from September 21 to October 15, and those who have cleared customs to the port can depart normally
.
At present, there is no official document issued, and the relevant parties are in continuous communication
.
The prolonged moratorium may have an impact
on the supply of copper concentrate.