Warm peripheral sentiment boosted the strong operation of Shanghai copper

The US inflation data released overnight fell more than expected, the US dollar index fell significantly, the overall external market atmosphere was warm, easing the pressure on the metal, and Shanghai copper was strong
.
Guotai Junan Futures said that the US CPI in November hit the smallest year-on-year increase, consumer inflation slowed down again than expected, the Federal Reserve will slow down the pace of interest rate hikes, and the dollar index retreated, which is positive for risk asset prices
.

Previously, the situation in Peru was tense, but local copper production was not affected, although it is reported that road blockades have hindered
copper transportation.
At present, Peruvian Cerro Verde and other copper miners have faced miners' commuting and raw material supply transportation delays
.
There is a disturbance in copper mine supply, but domestic copper concentrate supply and demand are still loose, but the increase in domestic refined copper output is still limited
.
For the supply and demand side, Jinyuan Futures said that on the supply and demand side, spot premium has fallen to near flat water, and there is limited
room for continued decline.
Domestic refined copper production continued to fall short of expectations in November, and it is expected to fall back in December, and the low inventory situation at home and abroad is difficult to change, which also supports copper prices
.

In terms of the market, Shanghai Metal Network 1# electrolytic copper quotation 66500-66750 yuan / ton, the average price of 66625 yuan / ton, up 450 yuan / ton from the previous trading day, the Shanghai copper 2212 contract posted 20-liter 80 yuan / ton
.
The spot market traded generally, and the premium fell by 15 yuan / ton
from the previous day.
The intraday domestic trade market transaction is cold, and the fluctuation of premium is small
.
Flat water copper is basically traded around 10 yuan, good copper supply is scarce, basically traded around 60 liters, wet copper and poor flat water copper are rare
.
As of the close, the network has a liter of copper newspaper 60 liters - 80 yuan / ton, flat water copper newspaper sticker 20-liter 10 yuan / ton, poor copper newspaper 100 - 40 yuan / ton
.

From a fundamental point of view, copper market consumption gradually entered the off-season, the arrival of cold winter also caused the start of construction to be affected, and because of the earlier Spring Festival this year, most of the traditional power grids have been delivered in November, new orders are relatively sluggish, and the off-season effect may exceed expectations
.
In summary, under macro uncertainty, the copper market is still volatile in the short term
.