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    Home > Chemicals Industry > New Chemical Materials > June 1 Copper Market Morning Review

    June 1 Copper Market Morning Review

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Copper market morning comment: London copper opened at 9523.
    5 US dollars / ton yesterday, the highest was 9591.
    5 US dollars / ton, and closed at 9439 US dollars / ton; It was down $86/mt, or 0.
    9%,
    from the previous session.
    The main contract of Shanghai copper opened at 71,970 yuan / ton, with a maximum of 72,000 yuan / ton
    .

    Copper City

    On the macro front, although Fed officials emphasized the rhetoric of raising interest rates, with the gradual realization of the interest rate hike process, market sentiment cooled compared with before, and the high of the US dollar index fell back to give copper prices a chance
    to rebound.

    This week's domestic copper concentrate spot TC was 78.
    5 US dollars / ton, unchanged from last week, smelter demand for ore has rebounded compared with before, but this week domestic social inventory continued to slightly reduce to 97,000 tons, and with the domestic especially Shanghai epidemic prevention and control gradually into the end, consumption recovery is expected to be positive for copper prices, short-term in the macro pressure and demand recovery expectations, copper prices are expected to continue to rebound in the short term, but the space before the expected realization is more limited
    .

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