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February 22 copper market morning review

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

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Copper market morning comment: London copper fell slightly yesterday, and the main contract of Shanghai copper closed lower
overnight.
LME copper stocks increased by 300 tonnes to 74,375 tonnes; Copper decreased by 553 tonnes to 69,796 tonnes
.
Macro long and short intertwined, domestic and foreign policies divergence, domestic accumulation but overseas destocking, copper prices may still fluctuate trend, band operation is the mainstay
.

Copper City

At the macro level, the situation in Russia and Ukraine affects market sentiment; US inflation data exceeded expectations, expectations of interest rate hikes increased sharply, and the dollar index rebounded; Energy prices such as crude oil rose sharply, and inflation expectations increased; Domestic wide credit is verified
by data.

On the supply side, the recovery of TC slowed down, and refined copper production increased
year-on-year.
On the demand side, the domestic accumulation continues, but the premium is relatively firm
.
Overseas inventories fell slightly, and premiums rose
.

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