August 29 copper market morning review

On the macro front, Fed Chairman Jerome Powell appeared hawkish at the annual meeting of global central banks, saying that one should not expect a quick pullback from the Fed until inflation is resolved
.

Fundamentals, orders for civil wires and cables are still weak, and spot supply is also low, showing a pattern of weak supply and demand
.
It can be seen from the trend of copper prices last week that it is mainly the internal disk that drives the external market up
.
Affected by Powell's hawkish speech, copper prices may fall to some extent this week, but due to the difficulty of solving the spot shortage, the range of decline may be limited
.
In the medium term, the smelter overhaul will eventually end, and the Fed's interest rate hike has not yet landed, so it is still recommended to wait for a short time and pay attention to the consumption performance
after the subsequent peak season.