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February 10 copper market morning review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Copper market morning comment: London copper rose sharply yesterday, and the main contract of Shanghai copper closed higher
overnight.
LME copper stocks minus 2,600 tonnes to 77,325 tonnes; Copper increased by 2,322 tonnes to 24,464 tonnes
in the previous period.
Overseas contraction limits upside, low inventories provide support, focus on the upper edge of the range pressure
.

Copper City

At the macro level, the Fed's local Fed presidents made dovish speeches, and the dollar index fell sharply; Energy prices have soared and inflation expectations have risen; The marginal improvement of domestic monetary policy is obvious; Infrastructure is accelerating
.

On the supply side, the recovery of TC slowed down, and the production of refined copper increased significantly
year-on-year.
On the demand side, the domestic continuous accumulation before the holiday, the premium fell
back.
Overseas inventories fell sharply, and the concentration of warehouse receipts remained at a high level
.
Pay attention to the changes in domestic post-holiday inventory
.

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