Copper prices recover the 60,000 mark short-term or continue high volatility

On the macro front, the minutes of the Fed's June meeting showed that even if the US economy slows, interest rates may still need to remain rising for a longer period of time in case high inflation becomes entrenched
.
Participants in the minutes described the labor market as "overheated," a phrase that seemed to cast a glimmer of hope for the future
.
The entire meeting minutes revolve around "inflation", and all changes in monetary policy will take inflation as the most critical consideration, while the labor market, economic development, etc.
will be secondary
.

In terms of fundamentals, according to Mysteel's survey of 56 sample enterprises, with a total production capacity of 13.
525 million tons, the national output of fine copper rods in June 2022 was 750,790 tons, an increase of 5.
25% month-on-month and 6.
83% year-on-year; In June 2022, the capacity utilization rate of fine copper rods was 67.
45%, an increase of 5.
44% month-on-month and 2.
41% year-on-year; The overall production level of the market is steadily recovering, the impact of the previous epidemic is basically digested, and the production and sales performance of the fine copper rod market is steadily rebounding
.

At present, the market sentiment is still fragile, copper prices may continue to be highly volatile, and it will take time to stabilize, pay attention to US economic data
.
In the short term, there is a possibility
of a technical reversal in copper prices.
It is expected to enter the low shock stage in the later stage
.