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On Monday, the Shanghai copper 2212 contract fell back and finally closed at 62060 yuan / ton; The trend of the international copper 2212 contract was also volatile and fell, and finally closed at 55110 yuan / ton
.
Copper fell overnight, while Shanghai copper and international copper rebounded
.
On Monday, Shanghai electrolytic copper spot pair 11 contracts for the month reported a premium of 210-270 yuan / ton, with an average price of 240 yuan / ton, down 130 yuan / ton from last Friday; The monthly difference of the next month rushed another 1300 yuan / ton, and the spot premium was under pressure
.
On the macro level, the Ministry of Finance: support Shenzhen to explore and innovate the fiscal policy system and management system; China's official manufacturing PMI in October was 49.
2, eurozone inflation continued to explode, and the Harmonized CPI rose 10.
7% year-on-year in October, beating expectations and hitting a new record high
.
In terms of industries, data released by Chile's national statistical institute INE showed that the country's copper production fell 2.
6% in September from a year earlier to 439,277 tonnes
.
Yesterday's copper price trend was volatile and retreated, and the night session rebounded
.
After the release of the domestic manufacturing PMI in October, the data showed that the pressure of economic growth was still large, both domestic demand and exports were weak, and the pressure on the demand side put copper prices under pressure and returned to the previous shock range
.
The short-term focus is on the Fed's November interest rate decision and the outcome of the LME sanctions on Russian metals, both of which will have a greater impact
on copper prices.
However, in the medium and long term, the pressure of overseas economic recession will increase next year, and domestic supply and demand support will gradually weaken, so the view
of copper price volatility will continue to fall.
